Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,125 shares of the technology infrastructure company’s stock after selling 139 shares during the quarter. Garrison Asset Management LLC’s holdings in Akamai Technologies were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Akamai Technologies by 85.7% in the third 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 in the last quarter. Versant Capital Management Inc raised its holdings in Akamai Technologies by 170.8% during the second 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 purchased a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new position in shares of Akamai Technologies in the 1st quarter valued at $31,000. Finally, Family Firm Inc. purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at $35,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AKAM. DA Davidson restated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $125.00 in a report on Friday, August 9th. Scotiabank raised their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.47.

Insider Buying and Selling

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,500 shares of company stock worth $741,655. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded down $0.24 during midday trading on Monday, hitting $100.33. 62,017 shares of the company’s stock were exchanged, compared to its average volume of 1,586,670. The firm has a market cap of $15.20 billion, a P/E ratio of 24.89, a PEG ratio of 3.24 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies, Inc. has a twelve month low of $87.59 and a twelve month high of $129.17. The stock’s 50 day moving average price is $101.00 and its 200-day moving average price is $97.23.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. Akamai Technologies’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.42 EPS for the current year.

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.