Ipswich Investment Management Co. Inc. Has $319,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Ipswich Investment Management Co. Inc. cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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.

A number of other institutional investors have also recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC raised its position in Akamai Technologies by 85.7% during the 3rd 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 last quarter. Versant Capital Management Inc raised its position in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Akamai Technologies in the second quarter worth approximately $28,000. EntryPoint Capital LLC bought a new stake in Akamai Technologies in the first quarter valued at approximately $31,000. Finally, Family Firm Inc. acquired a new stake in Akamai Technologies during the 2nd quarter valued at approximately $35,000. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the company’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 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now directly owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $1,065,975 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of analyst reports. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. TD Cowen increased their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating 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 objective for the company in a research report on Monday, November 11th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Stock Performance

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

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.