Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,359 shares of the technology infrastructure company’s stock after selling 176 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Akamai Technologies were worth $1,349,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after buying an additional 347,626 shares during the period. Champlain Investment Partners LLC boosted its holdings in Akamai Technologies by 19.6% in the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock worth $147,308,000 after acquiring an additional 222,290 shares during the period. Intech Investment Management LLC grew its position in Akamai Technologies by 409.2% in the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after acquiring an additional 199,334 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Akamai Technologies during the second quarter valued at approximately $15,314,000. Finally, Renaissance Technologies LLC lifted its position in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after purchasing an additional 162,700 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling

In other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’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 transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AKAM has been the subject of a number of analyst reports. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Monday, July 29th. TD Cowen increased their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Tigress Financial restated a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. Scotiabank reduced their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Stock Down 0.5 %

Akamai Technologies stock opened at $88.35 on Friday. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.36 and a beta of 0.68. The company’s 50-day moving average price is $100.02 and its two-hundred day moving average price is $96.88. The company has a current ratio of 1.33, a quick ratio of 1.32 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.