Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 48.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,855 shares of the technology infrastructure company’s stock after selling 2,685 shares during the period. MADDEN SECURITIES Corp’s holdings in Akamai Technologies were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AKAM. Farther Finance Advisors LLC lifted its position 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 valued at $25,000 after buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the period. Eastern Bank purchased a new position in Akamai Technologies during the third quarter valued at $71,000. Covestor Ltd grew its position in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Akamai Technologies in the third quarter valued at about $102,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Up 2.5 %

Shares of NASDAQ AKAM opened at $102.10 on Tuesday. The company has a market capitalization of $15.34 billion, a P/E ratio of 30.21, a P/E/G ratio of 3.56 and a beta of 0.65. 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 has a 50 day simple moving average of $96.38 and a 200-day simple moving average of $97.80. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $128.62.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,282 shares of company stock worth $2,099,996. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AKAM shares. Evercore ISI restated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research 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. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. Finally, Citigroup lowered their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.