Perigon Wealth Management LLC Sells 515 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Perigon Wealth Management LLC reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 11.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,816 shares of the technology infrastructure company’s stock after selling 515 shares during the quarter. Perigon Wealth Management LLC’s holdings in Akamai Technologies were worth $307,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AKAM. Fairfield Bush & CO. bought a new stake in Akamai Technologies in the 1st quarter valued at $107,000. Private Advisor Group LLC lifted its position in Akamai Technologies by 16.0% during the 1st quarter. Private Advisor Group LLC now owns 4,491 shares of the technology infrastructure company’s stock worth $536,000 after buying an additional 620 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Akamai Technologies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,740 shares of the technology infrastructure company’s stock worth $2,596,000 after buying an additional 1,346 shares in the last quarter. Cibc World Market Inc. lifted its position in Akamai Technologies by 2.3% during the 1st quarter. Cibc World Market Inc. now owns 10,741 shares of the technology infrastructure company’s stock worth $1,282,000 after buying an additional 237 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Akamai Technologies by 48.7% during the 1st quarter. Cetera Investment Advisers now owns 2,789 shares of the technology infrastructure company’s stock worth $333,000 after buying an additional 914 shares in the last quarter. 90.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Anthony P. Williams sold 6,300 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $71.23, for a total transaction of $448,749.00. Following the transaction, the executive vice president now owns 13,992 shares in the company, valued at approximately $996,650.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 6,300 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $71.23, for a total transaction of $448,749.00. Following the transaction, the executive vice president now owns 13,992 shares in the company, valued at approximately $996,650.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $72.08, for a total transaction of $288,320.00. Following the transaction, the chief technology officer now owns 29,716 shares in the company, valued at approximately $2,141,929.28. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 7,333 shares of company stock worth $600,961 and have sold 35,740 shares worth $2,825,750. Company insiders own 1.70% of the company’s stock.

Akamai Technologies Stock Up 1.5 %

Shares of AKAM opened at $73.61 on Friday. Akamai Technologies, Inc. has a 52 week low of $70.65 and a 52 week high of $123.25. The firm has a market cap of $11.50 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78. The firm’s 50-day simple moving average is $81.68 and its 200 day simple moving average is $85.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.41 and a current ratio of 2.41.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Akamai Technologies had a net margin of 13.15% and a return on equity of 15.12%. The business had revenue of $927.78 million for the quarter, compared to analyst estimates of $904.80 million. During the same quarter in the prior year, the business earned $1.26 EPS. Akamai Technologies’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that Akamai Technologies, Inc. will post 4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AKAM shares. StockNews.com started coverage on shares of Akamai Technologies in a research report on Thursday. They set a “buy” rating on the stock. Guggenheim started coverage on shares of Akamai Technologies in a research report on Monday, January 23rd. They set a “sell” rating and a $75.00 price target on the stock. Cowen cut their price target on shares of Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 15th. Loop Capital lowered their price objective on shares of Akamai Technologies from $91.00 to $79.00 and set a “hold” rating on the stock in a research note on Wednesday, March 1st. Finally, Royal Bank of Canada lowered shares of Akamai Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $100.00 to $85.00 in a research note on Wednesday, February 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Hold” and a consensus target price of $100.63.

About Akamai Technologies

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Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.