Rhumbline Advisers Sells 14,684 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Rhumbline Advisers reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 276,705 shares of the technology infrastructure company’s stock after selling 14,684 shares during the period. Rhumbline Advisers owned approximately 0.18% of Akamai Technologies worth $26,467,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its position in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Bruce G. Allen Investments LLC raised its position in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the period. Eastern Bank purchased a new position in Akamai Technologies in the 3rd quarter worth $71,000. Covestor Ltd raised its position in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Akamai Technologies in the 3rd quarter worth $102,000. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock valued at $1,523,951 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Up 0.9 %

Shares of AKAM opened at $100.26 on Thursday. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $113.36. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $96.64 and its 200-day moving average price is $97.96. The firm has a market capitalization of $15.06 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.57 and a beta of 0.65.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, November 11th. Citigroup decreased their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and an average target price of $117.95.

Akamai Technologies Company 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.