Ipswich Investment Management Co. Inc. Sells 300 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Ipswich Investment Management Co. Inc. decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 8.7% in the third quarter, Holdings Channel.com reports. The firm owned 3,156 shares of the technology infrastructure company’s stock after selling 300 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Akamai Technologies were worth $319,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of Akamai Technologies by 14.3% in the first quarter. Empowered Funds LLC now owns 3,115 shares of the technology infrastructure company’s stock worth $339,000 after purchasing an additional 390 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Akamai Technologies by 9.6% during the first quarter. Avantax Advisory Services Inc. now owns 2,516 shares of the technology infrastructure company’s stock valued at $274,000 after buying an additional 221 shares during the period. ProShare Advisors LLC raised its stake in Akamai Technologies by 11.9% in the first quarter. ProShare Advisors LLC now owns 31,917 shares of the technology infrastructure company’s stock worth $3,471,000 after buying an additional 3,384 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Akamai Technologies by 17.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock worth $20,132,000 after buying an additional 27,484 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Akamai Technologies by 1.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,745 shares of the technology infrastructure company’s stock valued at $27,324,000 after purchasing an additional 2,422 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 11.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $1,065,975 in the last three months. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AKAM. Tigress Financial restated a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Scotiabank lowered 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

View Our Latest Research Report on Akamai Technologies

Akamai Technologies Trading Down 1.0 %

Akamai Technologies stock opened at $87.43 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $86.78 and a 12-month high of $129.17. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 3.36 and a beta of 0.68. The firm has a 50 day moving average of $99.84 and a 200 day moving average of $96.78.

Akamai Technologies Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAMFree Report).

Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.