Northeast Investment Management Sells 2,082 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Northeast Investment Management decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 52,275 shares of the technology infrastructure company’s stock after selling 2,082 shares during the period. Northeast Investment Management’s holdings in Akamai Technologies were worth $5,000,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. AlphaStar Capital Management LLC boosted its stake in Akamai Technologies by 14.8% during the fourth quarter. AlphaStar Capital Management LLC now owns 14,131 shares of the technology infrastructure company’s stock valued at $1,352,000 after buying an additional 1,823 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in Akamai Technologies in the fourth quarter worth $281,000. Empowered Funds LLC lifted its position in Akamai Technologies by 11.0% during the 4th quarter. Empowered Funds LLC now owns 4,124 shares of the technology infrastructure company’s stock valued at $394,000 after acquiring an additional 409 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in Akamai Technologies by 3.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,948 shares of the technology infrastructure company’s stock worth $473,000 after acquiring an additional 166 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Akamai Technologies by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,175 shares of the technology infrastructure company’s stock valued at $1,930,000 after purchasing an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $99.64 on Friday. The stock’s 50 day simple moving average is $96.30 and its 200-day simple moving average is $97.74. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. 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 company has a market cap of $14.97 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65.

Insiders Place Their Bets

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $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 a total of 22,282 shares of company stock valued at $2,099,996 in the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AKAM has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Scotiabank reduced their price target 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. Citigroup dropped their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Finally, HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.10.

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.