Migdal Insurance & Financial Holdings Ltd. Sells 514 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Migdal Insurance & Financial Holdings Ltd. reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,824 shares of the technology infrastructure company’s stock after selling 514 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Akamai Technologies were worth $940,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Akamai Technologies by 5.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,172 shares of the technology infrastructure company’s stock worth $1,956,000 after acquiring an additional 971 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Akamai Technologies by 8.9% during the fourth quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock worth $87,188,000 after buying an additional 74,373 shares during the period. Boston Trust Walden Corp boosted its position in shares of Akamai Technologies by 3.9% during the fourth quarter. Boston Trust Walden Corp now owns 328,159 shares of the technology infrastructure company’s stock worth $31,388,000 after buying an additional 12,213 shares during the period. JB Capital LLC grew its holdings in shares of Akamai Technologies by 92.3% during the fourth quarter. JB Capital LLC now owns 48,478 shares of the technology infrastructure company’s stock worth $4,637,000 after buying an additional 23,266 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Akamai Technologies by 13.4% during the fourth quarter. DAVENPORT & Co LLC now owns 53,883 shares of the technology infrastructure company’s stock worth $5,154,000 after buying an additional 6,360 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AKAM has been the subject of a number of research reports. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Citigroup decreased their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Robert W. Baird decreased their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Scotiabank decreased their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $99.64 on Friday. The stock has a market cap of $14.97 billion, a P/E ratio of 29.48, a PEG ratio of 3.57 and a beta of 0.65. The stock has a 50 day simple moving average of $96.30 and a 200 day simple moving average of $97.73. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,282 shares of company stock valued at $2,099,996. Insiders own 2.00% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.