Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Position Lowered by Brooklyn Investment Group

Brooklyn Investment Group lessened its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 84.7% during the third quarter, Holdings Channel reports. The institutional investor owned 334 shares of the technology infrastructure company’s stock after selling 1,856 shares during the quarter. Brooklyn Investment Group’s holdings in Akamai Technologies were worth $34,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC raised its stake in shares of Akamai Technologies by 2.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after buying an additional 102 shares in the last quarter. Empirical Finance LLC raised its position in shares of Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after purchasing an additional 103 shares during the period. Van ECK Associates Corp raised its position in shares of Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC raised its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Finally, D.A. Davidson & CO. raised its position in shares of Akamai Technologies by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after purchasing an additional 115 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the business’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 of the company’s stock, valued at $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $1,058,625 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Scotiabank cut 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. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, November 11th. TD Cowen boosted their target price on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird cut their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $94.02 on Friday. The business’s 50-day moving average price is $98.72 and its two-hundred day moving average price is $96.23. 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 one year low of $84.70 and a one year high of $129.17. The company has a market capitalization of $14.12 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 3.57 and a beta of 0.68.

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.