Ballentine Partners LLC Sells 163 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Ballentine Partners LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,917 shares of the technology infrastructure company’s stock after selling 163 shares during the quarter. Ballentine Partners LLC’s holdings in Akamai Technologies were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AKAM. Banque Cantonale Vaudoise increased its position in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. grew its stake in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after buying an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after buying an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after buying an additional 46,335 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its holdings in shares of Akamai Technologies by 148.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock worth $2,009,000 after acquiring an additional 11,890 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock worth $2,099,996 over the last ninety days. 1.80% of the stock is owned by insiders.

Akamai Technologies Stock Up 1.9 %

Shares of AKAM opened at $97.70 on Friday. The stock’s 50-day moving average price is $94.59 and its two-hundred day moving average price is $97.41. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a market capitalization of $14.68 billion, a PE ratio of 28.91, a PEG 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HSBC raised shares of 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 lowered their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group started coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.10.

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.