Farmers Trust Co. Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Farmers Trust Co. reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 46,296 shares of the technology infrastructure company’s stock after selling 180 shares during the period. Farmers Trust Co.’s holdings in Akamai Technologies were worth $4,428,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after acquiring an additional 138,380 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Akamai Technologies by 47.2% during the 4th quarter. GAMMA Investing LLC now owns 4,197 shares of the technology infrastructure company’s stock worth $401,000 after buying an additional 1,345 shares during the period. Principal Financial Group Inc. lifted its position in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Akamai Technologies by 9.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,201 shares of the technology infrastructure company’s stock valued at $524,000 after acquiring an additional 432 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after acquiring an additional 139,760 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AKAM. Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Robert W. Baird reduced their price target 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. UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.85.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $1.24 during trading hours on Wednesday, hitting $93.78. The company’s stock had a trading volume of 781,051 shares, compared to its average volume of 1,374,893. The company has a market capitalization of $14.09 billion, a PE ratio of 27.75, a PEG ratio of 3.83 and a beta of 0.64. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $129.17. The business’s 50-day moving average is $95.52 and its two-hundred day moving average is $97.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was 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 owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,282 shares of company stock worth $1,733,716. 1.80% of the stock is owned by insiders.

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.