Fifth Third Bancorp Has $3.60 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Fifth Third Bancorp decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,653 shares of the technology infrastructure company’s stock after selling 7,400 shares during the period. Fifth Third Bancorp’s holdings in Akamai Technologies were worth $3,602,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings 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 valued at $53,000 after purchasing an additional 155 shares during the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies in the third quarter valued at about $71,000. Covestor Ltd boosted its holdings in shares of Akamai Technologies by 67.7% during the 3rd 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 acquired a new position in Akamai Technologies in the 3rd quarter valued at about $102,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction 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 owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,282 shares of company stock worth $2,099,996 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 2.0 %

AKAM stock opened at $99.67 on Tuesday. The stock has a market capitalization of $14.97 billion, a P/E ratio of 29.49, 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. The firm has a 50-day moving average price of $94.87 and a 200-day moving average price of $97.51. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AKAM. Robert W. Baird reduced their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Citigroup decreased their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. 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 issued a strong buy rating to the company. According to MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $116.10.

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.