Blueshift Asset Management LLC Sells 1,240 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Blueshift Asset Management LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,700 shares of the technology infrastructure company’s stock after selling 1,240 shares during the quarter. Blueshift Asset Management LLC’s holdings in Akamai Technologies were worth $676,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake 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 valued at $25,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Akamai Technologies during the second quarter valued at approximately $28,000. Family Firm Inc. bought a new stake in shares of Akamai Technologies during the second quarter valued at approximately $35,000. Finally, Eastern Bank purchased a new position in Akamai Technologies in the 3rd quarter worth approximately $71,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.8 %

Shares of NASDAQ:AKAM opened at $93.86 on Thursday. The stock has a 50 day moving average of $98.91 and a 200 day moving average of $96.27. The company has a market cap of $14.10 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred 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 sale, the chief technology officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $1,058,625 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on AKAM shares. 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. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Robert W. Baird reduced their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, TD Cowen boosted their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.