Livforsakringsbolaget Skandia Omsesidigt Sells 1,100 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 29,734 shares of the technology infrastructure company’s stock after selling 1,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Akamai Technologies were worth $2,844,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in Akamai Technologies in the second quarter valued at about $984,000. Czech National Bank lifted its stake in shares of Akamai Technologies by 6.3% during the 3rd quarter. Czech National Bank now owns 30,867 shares of the technology infrastructure company’s stock valued at $3,116,000 after buying an additional 1,842 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Akamai Technologies by 85.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,852 shares of the technology infrastructure company’s stock valued at $288,000 after buying an additional 1,312 shares in the last quarter. Tobam lifted its stake in shares of Akamai Technologies by 1.2% during the 3rd quarter. Tobam now owns 51,830 shares of the technology infrastructure company’s stock valued at $5,232,000 after buying an additional 606 shares in the last quarter. Finally, Chickasaw Capital Management LLC purchased a new stake in shares of Akamai Technologies during the 3rd quarter valued at approximately $202,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $99.61 on Friday. The company has a 50 day moving average price of $96.19 and a 200-day moving average price of $97.71. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The firm has a market capitalization of $14.96 billion, a PE ratio of 29.47, a P/E/G ratio of 3.57 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % 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, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,282 shares of company stock valued at $2,099,996 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Citigroup reduced their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, UBS Group started coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.10.

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.