Private Trust Co. NA Reduces Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Private Trust Co. NA decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 28.5% during the third quarter, HoldingsChannel reports. The firm owned 612 shares of the technology infrastructure company’s stock after selling 244 shares during the quarter. Private Trust Co. NA’s holdings in Akamai Technologies were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC raised its position in Akamai Technologies by 17.0% during the third quarter. Truvestments Capital LLC now owns 2,759 shares of the technology infrastructure company’s stock valued at $279,000 after acquiring an additional 401 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Akamai Technologies by 96.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 10,151 shares of the technology infrastructure company’s stock worth $1,025,000 after acquiring an additional 4,985 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of Akamai Technologies by 58.7% during the 3rd quarter. Summit Trail Advisors LLC now owns 4,022 shares of the technology infrastructure company’s stock worth $406,000 after acquiring an additional 1,488 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its position in shares of Akamai Technologies by 148.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock valued at $2,009,000 after acquiring an additional 11,890 shares during the period. Finally, Swedbank AB increased its stake in shares of Akamai Technologies by 5.3% in the 3rd quarter. Swedbank AB now owns 92,497 shares of the technology infrastructure company’s stock valued at $9,338,000 after purchasing an additional 4,689 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $94.02 on Friday. The firm’s 50-day moving average is $98.61 and its two-hundred day moving average is $96.23. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $14.12 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.57 and a beta of 0.68.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AKAM. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Scotiabank decreased their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, 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 note on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and an average price target of $117.47.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,500 shares of company stock worth $1,058,625. 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.