Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,657 shares of the technology infrastructure company’s stock after selling 550 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Akamai Technologies were worth $1,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Akamai Technologies in the first quarter worth $31,000. Advisors Asset Management Inc. grew its stake in Akamai Technologies by 26.3% in the 1st quarter. Advisors Asset Management Inc. now owns 11,743 shares of the technology infrastructure company’s stock worth $1,277,000 after acquiring an additional 2,446 shares during the period. Caxton Associates LP acquired a new position in shares of Akamai Technologies during the 1st quarter valued at about $753,000. Janus Henderson Group PLC increased its position in Akamai Technologies by 19.6% during the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after purchasing an additional 6,724 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Akamai Technologies by 1.9% in the 1st quarter. California State Teachers Retirement System now owns 254,130 shares of the technology infrastructure company’s stock worth $27,639,000 after buying an additional 4,753 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 2.0 %

Shares of AKAM opened at $92.90 on Monday. The business’s 50-day moving average price is $99.09 and its 200 day moving average price is $96.31. 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 stock has a market capitalization of $13.96 billion, a P/E ratio of 27.49, a P/E/G ratio of 3.47 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17.

Analyst Upgrades and Downgrades

AKAM has been the subject of several recent research reports. TD Cowen increased their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Monday, July 29th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Insider Activity at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock worth $1,065,975. 1.80% of the stock is owned by corporate insiders.

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.