Kercheville Advisors LLC Reduces Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kercheville Advisors LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,350 shares of the technology infrastructure company’s stock after selling 530 shares during the period. Kercheville Advisors LLC’s holdings in Akamai Technologies were worth $1,373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Farther Finance Advisors LLC boosted its position in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Akamai Technologies by 38.8% in the fourth 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 bought a new position in shares of Akamai Technologies in the third quarter worth about $71,000. Covestor Ltd raised its stake in shares of Akamai Technologies by 67.7% in the third 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 bought a new position in shares of Akamai Technologies in the third quarter worth about $102,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 1.0 %

AKAM opened at $100.89 on Thursday. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 3.57 and a beta of 0.65. 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 $129.17. The stock has a fifty day moving average price of $96.07 and a 200-day moving average price of $97.69.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AKAM shares. Citigroup decreased their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, UBS Group initiated coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.10.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated 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 directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,282 shares of company stock valued at $2,099,996. Corporate insiders own 2.00% 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.