Platform Technology Partners Cuts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Platform Technology Partners lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,000 shares of the technology infrastructure company’s stock after selling 300 shares during the period. Platform Technology Partners’ holdings in Akamai Technologies were worth $404,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AKAM. Farther Finance Advisors LLC boosted its holdings 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 worth $25,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc raised its position in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC purchased a new stake in Akamai Technologies in the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC purchased a new position in shares of Akamai Technologies during the first quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AKAM shares. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Monday, July 29th. TD Cowen upped their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Robert W. Baird cut their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.47.

Insider Transactions at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $91.07 on Tuesday. The firm has a market cap of $13.80 billion, a PE ratio of 26.94, a PEG ratio of 2.87 and a beta of 0.68. The stock has a 50 day moving average of $100.66 and a 200 day moving average of $97.08. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17.

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.