Akamai Technologies, Inc. (NASDAQ:AKAM) Stake Cut by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.2% in the fourth quarter, HoldingsChannel reports. The fund owned 2,350 shares of the technology infrastructure company’s stock after selling 357 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Akamai Technologies were worth $225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares in the last quarter. Retirement Systems of Alabama increased its position in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after purchasing an additional 139,760 shares during the last quarter. Nordea Investment Management AB raised its stake 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 purchasing an additional 138,380 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Akamai Technologies during the 3rd quarter valued at about $13,313,000. Finally, Invenomic Capital Management LP grew its stake in shares of Akamai Technologies by 252.2% in the 3rd quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock valued at $17,766,000 after buying an additional 126,021 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AKAM. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird reduced their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. 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 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.10.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were 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 of the company’s stock, valued at $1,467,840.22. This represents 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 business’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 completion of the transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock valued at $2,099,996 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $97.70 on Friday. The stock has a market capitalization of $14.68 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.40 and a beta of 0.64. 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 1 year low of $84.70 and a 1 year high of $129.17. The firm has a 50 day moving average of $94.59 and a 200-day moving average of $97.41.

Akamai Technologies 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.