Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,359 shares of the technology infrastructure company’s stock after selling 176 shares during the period. Janney Montgomery Scott LLC’s holdings in Akamai Technologies were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AKAM. Farther Finance Advisors LLC grew its holdings in shares of Akamai Technologies by 85.7% during the third 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 last quarter. Versant Capital Management Inc increased its position in Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC purchased a new stake in Akamai Technologies in the second quarter valued at approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $31,000. Finally, Family Firm Inc. purchased a new position in shares of Akamai Technologies during the second quarter worth approximately $35,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on AKAM shares. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, TD Cowen upped their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The trade was a 11.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.5 %

Shares of AKAM stock opened at $88.35 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $100.02 and a 200-day simple moving average of $96.88. Akamai Technologies, Inc. has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The stock has a market cap of $13.27 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.36 and a beta of 0.68.

About Akamai Technologies

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.