Commerce Bank Lowers Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Commerce Bank decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.0% in the third quarter, Holdings Channel reports. The institutional investor owned 11,814 shares of the technology infrastructure company’s stock after selling 115 shares during the quarter. Commerce Bank’s holdings in Akamai Technologies were worth $1,193,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AKAM. Farther Finance Advisors LLC increased its holdings in shares of Akamai Technologies by 85.7% in the 3rd 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 in the last quarter. Versant Capital Management Inc increased its holdings in shares of Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter worth $28,000. EntryPoint Capital LLC bought a new stake in shares of Akamai Technologies in the 1st quarter worth $31,000. Finally, Family Firm Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the subject of several research analyst reports. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. TD Cowen boosted 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. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Finally, Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the sale, the executive vice president now directly owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,500 shares of company stock worth $1,065,975. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $92.90 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $13.96 billion, a P/E ratio of 27.49, a P/E/G ratio of 3.47 and a beta of 0.68. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The business’s 50-day moving average is $99.09 and its 200 day moving average is $96.31.

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.