Migdal Insurance & Financial Holdings Ltd. Has $940,000 Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Migdal Insurance & Financial Holdings Ltd. cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,824 shares of the technology infrastructure company’s stock after selling 514 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Akamai Technologies were worth $940,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AKAM. Sanctuary Advisors LLC acquired a new position in shares of Akamai Technologies during the 2nd quarter worth $984,000. Czech National Bank raised its holdings in shares of Akamai Technologies by 6.3% during the 3rd quarter. Czech National Bank now owns 30,867 shares of the technology infrastructure company’s stock worth $3,116,000 after buying an additional 1,842 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Akamai Technologies by 85.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,852 shares of the technology infrastructure company’s stock worth $288,000 after buying an additional 1,312 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Akamai Technologies by 32.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 30,834 shares of the technology infrastructure company’s stock worth $3,111,000 after buying an additional 7,484 shares in the last quarter. Finally, Chickasaw Capital Management LLC bought a new stake in Akamai Technologies during the 3rd quarter worth $202,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Citigroup reduced their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Scotiabank reduced their price objective 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. Evercore ISI restated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.10.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,282 shares of company stock valued at $2,099,996 in the last ninety days. 2.00% of the stock is owned by company insiders.

Akamai Technologies Stock Up 0.0 %

Shares of NASDAQ:AKAM opened at $99.64 on Friday. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 3.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The business’s 50-day moving average is $96.30 and its 200-day moving average is $97.73. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17.

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.