Northeast Investment Management Sells 2,082 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Northeast Investment Management lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,275 shares of the technology infrastructure company’s stock after selling 2,082 shares during the quarter. Northeast Investment Management’s holdings in Akamai Technologies were worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Akamai Technologies in the second quarter valued at about $984,000. Czech National Bank boosted its holdings in shares of Akamai Technologies by 6.3% in the third quarter. Czech National Bank now owns 30,867 shares of the technology infrastructure company’s stock valued at $3,116,000 after buying an additional 1,842 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Akamai Technologies by 32.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 30,834 shares of the technology infrastructure company’s stock worth $3,111,000 after purchasing an additional 7,484 shares in the last quarter. Chickasaw Capital Management LLC bought a new position in shares of Akamai Technologies during the third quarter worth about $202,000. Finally, Burns Matteson Capital Management LLC acquired a new position in Akamai Technologies during the 3rd quarter worth approximately $363,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $99.64 on Friday. The company’s 50 day moving average price is $96.30 and its two-hundred day moving average price is $97.74. The firm has a market capitalization of $14.97 billion, a P/E ratio of 29.48, a P/E/G ratio of 3.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,282 shares of company stock worth $2,099,996 in the last 90 days. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AKAM shares. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, November 11th. UBS Group initiated coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. Finally, Robert W. Baird dropped their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.10.

About Akamai Technologies

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.