Cambridge Investment Research Advisors Inc. Sells 390 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Cambridge Investment Research Advisors Inc. decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,872 shares of the technology infrastructure company’s stock after selling 390 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Akamai Technologies were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in Akamai Technologies by 7.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 186,921 shares of the technology infrastructure company’s stock worth $17,071,000 after purchasing an additional 12,390 shares during the period. Simmons Bank boosted its position in Akamai Technologies by 2.9% during the 2nd quarter. Simmons Bank now owns 8,073 shares of the technology infrastructure company’s stock valued at $738,000 after buying an additional 226 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Akamai Technologies by 25.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,765 shares of the technology infrastructure company’s stock worth $61,170,000 after acquiring an additional 136,131 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Akamai Technologies in the second quarter valued at about $137,000. Finally, Park Avenue Securities LLC raised its stake in shares of Akamai Technologies by 7.0% during the second quarter. Park Avenue Securities LLC now owns 5,198 shares of the technology infrastructure company’s stock valued at $475,000 after acquiring an additional 342 shares during the last quarter. 90.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $92.92, for a total transaction of $464,600.00. Following the completion of the sale, the chief technology officer now owns 9,835 shares in the company, valued at $913,868.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Paul C. Joseph sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $95.00, for a total value of $142,500.00. Following the completion of the transaction, the executive vice president now directly owns 28,306 shares of the company’s stock, valued at $2,689,070. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $92.92, for a total transaction of $464,600.00. Following the sale, the chief technology officer now directly owns 9,835 shares in the company, valued at approximately $913,868.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,904 shares of company stock valued at $250,449 and have sold 10,363 shares valued at $946,762. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of a number of recent analyst reports. Evercore ISI lowered their price target on Akamai Technologies to $105.00 in a research report on Tuesday, November 15th. Raymond James reduced their target price on Akamai Technologies from $115.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. StockNews.com cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. TheStreet cut Akamai Technologies from a “b-” rating to a “c+” rating in a research report on Tuesday, September 20th. Finally, Robert W. Baird reduced their price objective on Akamai Technologies to $90.00 in a research report on Tuesday, November 15th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.86.

Akamai Technologies Trading Up 0.1 %

Shares of AKAM stock opened at $88.70 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.25 and a quick ratio of 2.25. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.66 and a beta of 0.74. Akamai Technologies, Inc. has a 1 year low of $76.28 and a 1 year high of $123.25. The firm has a fifty day moving average price of $88.37 and a 200-day moving average price of $88.90.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The technology infrastructure company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.07). The company had revenue of $881.90 million during the quarter, compared to the consensus estimate of $875.99 million. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. As a group, equities analysts predict that Akamai Technologies, Inc. will post 4.18 earnings per share for the current year.

Akamai Technologies Profile

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Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.