Pathstone Holdings LLC Sells 821 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Pathstone Holdings LLC lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,860 shares of the technology infrastructure company’s stock after selling 821 shares during the period. Pathstone Holdings LLC’s holdings in Akamai Technologies were worth $1,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AKAM. Farther Finance Advisors LLC boosted its stake in 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 boosted its stake in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter worth $28,000. Family Firm Inc. purchased a new position in Akamai Technologies in the 2nd quarter worth about $35,000. Finally, Eastern Bank bought a new position in shares of Akamai Technologies during the 3rd quarter valued at $71,000. Institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction 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 owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the transaction, the executive vice president now owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,500 shares of company stock valued at $1,058,625. 2.00% of the stock is owned by insiders.

Akamai Technologies Price Performance

Shares of AKAM opened at $93.86 on Thursday. The firm has a market capitalization of $14.10 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $98.91 and its 200-day moving average price is $96.27. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a report on Thursday, August 29th. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. TD Cowen upped their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.47.

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.