V Square Quantitative Management LLC Trims Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

V Square Quantitative Management LLC lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 4,806 shares of the technology infrastructure company’s stock after selling 307 shares during the period. V Square Quantitative Management LLC’s holdings in Akamai Technologies were worth $460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AKAM. Farther Finance Advisors LLC raised its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC increased its stake in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the period. Eastern Bank purchased a new position in Akamai Technologies in the 3rd quarter worth about $71,000. Covestor Ltd increased its stake in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Akamai Technologies in the 3rd quarter worth about $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on AKAM shares. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Citigroup reduced their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.95.

Akamai Technologies Stock Up 0.4 %

NASDAQ:AKAM opened at $100.01 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $114.67. The stock has a market capitalization of $15.02 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The company’s 50-day simple moving average is $96.60 and its 200-day simple moving average is $97.88.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $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 ninety days, insiders have sold 15,782 shares of company stock worth $1,523,951. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Company 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.