Ingalls & Snyder LLC Sells 620 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Ingalls & Snyder LLC decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,811 shares of the technology infrastructure company’s stock after selling 620 shares during the period. Ingalls & Snyder LLC’s holdings in Akamai Technologies were worth $843,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after buying an additional 910 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Akamai Technologies by 67.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 170,856 shares of the technology infrastructure company’s stock valued at $16,303,000 after acquiring an additional 68,681 shares during the period. Sovran Advisors LLC bought a new position in shares of Akamai Technologies during the fourth quarter valued at $302,000. Lightrock Netherlands B.V. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $4,806,000. Finally, Robinson Value Management Ltd. grew its holdings in shares of Akamai Technologies by 2.7% in the 4th quarter. Robinson Value Management Ltd. now owns 22,215 shares of the technology infrastructure company’s stock worth $2,125,000 after purchasing an additional 580 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 over the last three months. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

AKAM opened at $99.66 on Friday. The company has a fifty day moving average price of $96.56 and a two-hundred day moving average price of $97.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $14.97 billion, a PE ratio of 29.49, a P/E/G ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $122.00.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AKAM shares. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 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 note on Friday, November 8th. Finally, Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.10.

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.