Metis Global Partners LLC Buys 450 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Metis Global Partners LLC lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,471 shares of the technology infrastructure company’s stock after buying an additional 450 shares during the quarter. Metis Global Partners LLC’s holdings in Akamai Technologies were worth $855,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Versant Capital Management Inc increased its holdings in shares of Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares during the period. Innealta Capital LLC bought a new position in shares of Akamai Technologies in the second quarter worth $28,000. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies in the first quarter worth $31,000. Finally, Family Firm Inc. bought a new stake in Akamai Technologies during the second quarter valued at $35,000. 94.28% of the stock is currently owned by institutional investors.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,500 shares of company stock worth $1,065,975. Insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $87.43 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.32. Akamai Technologies, Inc. has a one year low of $86.78 and a one year high of $129.17. The business’s 50 day simple moving average is $99.84 and its two-hundred day simple moving average is $96.73. The stock has a market capitalization of $13.13 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AKAM shares. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Monday, July 29th. TD Cowen lifted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Finally, Scotiabank dropped their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

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.