WASHINGTON TRUST Co Has $837,000 Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

WASHINGTON TRUST Co lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 92.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,750 shares of the technology infrastructure company’s stock after selling 109,926 shares during the quarter. WASHINGTON TRUST Co’s holdings in Akamai Technologies were worth $837,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AKAM. Farther Finance Advisors LLC grew its holdings 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 worth $25,000 after acquiring an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the last quarter. Eastern Bank bought a new stake in Akamai Technologies during the 3rd quarter worth about $71,000. Covestor Ltd grew its holdings in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Akamai Technologies during the 3rd quarter worth about $102,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,782 shares of company stock worth $1,523,951. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $100.01 on Friday. 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 company has a market capitalization of $15.02 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company’s 50 day moving average price is $96.60 and its two-hundred day moving average price is $97.88. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $114.67.

Wall Street Analyst Weigh In

AKAM has been the topic of several recent research reports. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Citigroup reduced their target price 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. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $117.95.

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.