MADDEN SECURITIES Corp Sells 2,685 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

MADDEN SECURITIES Corp trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 48.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,855 shares of the technology infrastructure company’s stock after selling 2,685 shares during the period. MADDEN SECURITIES Corp’s holdings in Akamai Technologies were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the period. Eastern Bank bought a new stake in Akamai Technologies during the 3rd quarter valued at $71,000. Covestor Ltd increased its holdings in shares of Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Akamai Technologies in the 3rd quarter worth $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Hsbc Global Res upgraded 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 for the company in a research report on Monday, November 11th. Finally, Oppenheimer raised 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.10.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $102.10 on Tuesday. The company has a 50 day simple moving average of $96.38 and a two-hundred day simple moving average of $97.80. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.56 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $128.62.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,282 shares of company stock valued at $2,099,996 over the last 90 days. Insiders own 1.80% of the company’s stock.

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.