J.P. Marvel Investment Advisors LLC Lowers Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

J.P. Marvel Investment Advisors LLC cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,781 shares of the technology infrastructure company’s stock after selling 4,270 shares during the period. Akamai Technologies accounts for approximately 1.3% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 23rd largest position. J.P. Marvel Investment Advisors LLC’s holdings in Akamai Technologies were worth $7,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Creative Planning lifted its holdings in Akamai Technologies by 1.5% in the third quarter. Creative Planning now owns 108,539 shares of the technology infrastructure company’s stock worth $10,957,000 after buying an additional 1,569 shares during the period. V Square Quantitative Management LLC increased its stake in shares of 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 purchasing an additional 102 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Akamai Technologies by 42.4% during the third quarter. Blue Trust Inc. now owns 7,062 shares of the technology infrastructure company’s stock valued at $713,000 after purchasing an additional 2,101 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Akamai Technologies by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock valued at $10,315,000 after purchasing an additional 12,913 shares in the last quarter. Finally, Robinson Value Management Ltd. increased its stake in shares of Akamai Technologies by 0.8% during the third quarter. Robinson Value Management Ltd. now owns 21,635 shares of the technology infrastructure company’s stock valued at $2,184,000 after purchasing an additional 181 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 0.4 %

NASDAQ:AKAM opened at $100.01 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $114.67. The company has a market cap of $15.02 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company has a 50 day simple moving average of $96.60 and a two-hundred day simple moving average of $97.88.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction 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 transaction, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in 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. Citigroup decreased their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Scotiabank reduced their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday, November 11th. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.95.

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.