Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 64.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 363 shares of the technology infrastructure company’s stock after selling 645 shares during the period. Catalyst Capital Advisors LLC’s holdings in Akamai Technologies were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Nordea Investment Management AB increased its holdings 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 buying an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Akamai Technologies by 6.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after buying an additional 88,732 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Akamai Technologies by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock worth $87,188,000 after buying an additional 74,373 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank dropped their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Robert W. Baird dropped their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.95.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,782 shares of company stock worth $1,523,951. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $99.37 on Wednesday. The firm has a market cap of $14.93 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The firm’s 50-day simple moving average is $96.63 and its 200-day simple moving average is $97.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $113.36.

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.