Pathstone Holdings LLC Lowers Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Pathstone Holdings LLC lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,860 shares of the technology infrastructure company’s stock after selling 821 shares during the quarter. Pathstone Holdings LLC’s holdings in Akamai Technologies were worth $1,601,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AKAM. Janus Henderson Group PLC raised its position in Akamai Technologies by 19.6% in the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after purchasing an additional 6,724 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Sawgrass Asset Management LLC increased its holdings in Akamai Technologies by 72.6% in the third quarter. Sawgrass Asset Management LLC now owns 143,269 shares of the technology infrastructure company’s stock valued at $14,463,000 after buying an additional 60,241 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Akamai Technologies by 29.2% during the 3rd quarter. Natixis Advisors LLC now owns 253,334 shares of the technology infrastructure company’s stock worth $25,574,000 after acquiring an additional 57,210 shares in the last quarter. Finally, Triodos Investment Management BV increased its holdings in shares of Akamai Technologies by 19.0% in the 2nd quarter. Triodos Investment Management BV now owns 300,024 shares of the technology infrastructure company’s stock valued at $27,026,000 after acquiring an additional 48,000 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

AKAM has been the subject of several research reports. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. DA Davidson reiterated a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, Scotiabank lowered their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This represents a 13.03 % 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 valued at $1,058,625. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Up 0.8 %

AKAM opened at $93.86 on Thursday. The business’s fifty day simple moving average is $98.91 and its 200 day simple moving average is $96.27. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The firm has a market cap of $14.10 billion, a P/E ratio of 27.77, a PEG ratio of 3.60 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

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.