Chevy Chase Trust Holdings LLC Trims Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.3% in the 3rd quarter, Holdings Channel reports. The firm owned 81,241 shares of the technology infrastructure company’s stock after selling 1,916 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Akamai Technologies were worth $8,201,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% in 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 in the last quarter. Innealta Capital LLC purchased a new stake in shares of Akamai Technologies in the 2nd quarter worth $28,000. Family Firm Inc. bought a new position in shares of Akamai Technologies during the 2nd quarter worth $35,000. Eastern Bank purchased a new position in shares of Akamai Technologies during the third quarter valued at $71,000. Finally, Covestor Ltd raised its holdings in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on AKAM shares. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Scotiabank dropped 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. Finally, HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $117.61.

Insider Buying and Selling

In other news, Director William Raymond Wagner sold 1,000 shares of the 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 sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $1,058,625 in the last 90 days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.9 %

NASDAQ:AKAM opened at $97.40 on Friday. The company has a market capitalization of $14.63 billion, a P/E ratio of 28.82, a PEG ratio of 3.72 and a beta of 0.65. 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 12 month low of $84.70 and a 12 month high of $129.17. The firm has a fifty day simple moving average of $98.44 and a 200-day simple moving average of $96.29.

Akamai Technologies 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.