S&CO Inc. Sells 38,600 Shares of Akamai Technologies, Inc. $AKAM

S&CO Inc. reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 87.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,427 shares of the technology infrastructure company’s stock after selling 38,600 shares during the period. S&CO Inc.’s holdings in Akamai Technologies were worth $411,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its position in shares of Akamai Technologies by 24.3% during the third quarter. Hantz Financial Services Inc. now owns 830 shares of the technology infrastructure company’s stock worth $63,000 after purchasing an additional 162 shares during the last quarter. Mutual Advisors LLC increased its stake in Akamai Technologies by 4.0% in the 2nd quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock worth $372,000 after buying an additional 177 shares during the period. Main Management ETF Advisors LLC lifted its holdings in Akamai Technologies by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the technology infrastructure company’s stock valued at $935,000 after buying an additional 192 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in Akamai Technologies by 130.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock valued at $26,000 after buying an additional 195 shares during the period. Finally, Meridian Wealth Management LLC boosted its position in Akamai Technologies by 3.2% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,354 shares of the technology infrastructure company’s stock valued at $507,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $94.72 on Tuesday. The company has a market capitalization of $13.63 billion, a PE ratio of 27.78, a P/E/G ratio of 2.93 and a beta of 0.70. The company has a 50-day simple moving average of $90.36 and a two-hundred day simple moving average of $82.44. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $104.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28.

Insider Activity

In other news, CTO Robert Blumofe sold 3,500 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $97.00, for a total transaction of $339,500.00. Following the transaction, the chief technology officer directly owned 18,074 shares of the company’s stock, valued at approximately $1,753,178. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 6,560 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $88.03, for a total value of $577,476.80. Following the sale, the chief financial officer owned 16,442 shares of the company’s stock, valued at approximately $1,447,389.26. This represents a 28.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,818 shares of company stock worth $2,589,254 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AKAM shares. Oppenheimer raised their target price on shares of Akamai Technologies from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Royal Bank Of Canada raised their price objective on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a report on Monday, January 5th. The Goldman Sachs Group lifted their target price on Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a research report on Friday, November 7th. Bank of America dropped their price target on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Finally, Scotiabank raised their price target on Akamai Technologies from $94.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Friday, January 9th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and an average target price of $96.94.

Akamai Technologies Company Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.