Cornercap Investment Counsel Inc. Has $643,000 Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cornercap Investment Counsel Inc. reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 36.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,370 shares of the technology infrastructure company’s stock after selling 3,660 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Akamai Technologies were worth $643,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AKAM. V Square Quantitative Management LLC raised its position in Akamai Technologies by 2.0% during the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock valued at $516,000 after buying an additional 102 shares during the period. Van ECK Associates Corp increased its holdings in shares of Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% in 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 in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Akamai Technologies by 2.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after purchasing an additional 118 shares during the period. Finally, Garrison Asset Management LLC grew its position in Akamai Technologies by 0.6% during the second quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock valued at $1,915,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird decreased 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 note on Monday, November 11th. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Monday, July 29th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Price Performance

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

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This trade represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated 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 owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock worth $1,065,975 over the last three months. 1.80% of the stock is currently owned by insiders.

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.