Carnegie Investment Counsel Sells 5,196 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Carnegie Investment Counsel reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,490 shares of the technology infrastructure company’s stock after selling 5,196 shares during the period. Carnegie Investment Counsel’s holdings in Akamai Technologies were worth $7,029,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position 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 valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Nordea Investment Management AB grew its position in Akamai Technologies by 6.9% in 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. Earnest Partners LLC grew its position in Akamai Technologies by 1.3% in the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after purchasing an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position in Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after purchasing an additional 88,732 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Monday, December 2nd. Scotiabank reduced their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. 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. Finally, Robert W. Baird reduced their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $91.01 on Friday. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17. 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 stock has a market capitalization of $13.67 billion, a PE ratio of 26.93, a P/E/G ratio of 3.17 and a beta of 0.64. The company’s 50 day simple moving average is $94.02 and its two-hundred day simple moving average is $97.27.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now owns 19,510 shares of the company’s stock, valued at $1,728,781.10. This represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % 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 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

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.