Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,950 shares of the technology infrastructure company’s stock after selling 560 shares during the period. Marco Investment Management LLC’s holdings in Akamai Technologies were worth $803,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Earnest Partners LLC raised its stake in Akamai Technologies by 1.3% in the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after buying an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Akamai Technologies by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock worth $127,105,000 after purchasing an additional 14,347 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after purchasing an additional 11,272 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Up 2.0 %

AKAM opened at $92.90 on Friday. The company has a fifty day moving average of $99.09 and a two-hundred day moving average of $96.35. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 3.47 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, November 15th. The shares were 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 $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $1,065,975 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AKAM. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, November 11th. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.47.

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.