Tobam Cuts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Tobam decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 30.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,252 shares of the technology infrastructure company’s stock after selling 15,578 shares during the period. Tobam’s holdings in Akamai Technologies were worth $3,468,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Akamai Technologies during the second quarter worth about $984,000. Czech National Bank grew its position 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 valued at $3,116,000 after acquiring an additional 1,842 shares during the period. GAMMA Investing LLC increased its stake 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 purchasing an additional 1,312 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Akamai Technologies by 32.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 30,834 shares of the technology infrastructure company’s stock worth $3,111,000 after purchasing an additional 7,484 shares during the period. Finally, Chickasaw Capital Management LLC purchased a new position in Akamai Technologies in the third quarter valued at approximately $202,000. 94.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of recent research reports. Evercore ISI reissued an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction 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 completion of the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,282 shares of company stock worth $2,099,996. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Down 1.3 %

AKAM opened at $99.61 on Friday. The business’s fifty day simple moving average is $96.19 and its 200 day simple moving average is $97.71. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $14.96 billion, a PE ratio of 29.47, a P/E/G ratio of 3.57 and a beta of 0.65.

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.