Hennion & Walsh Asset Management Inc. Cuts Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Hennion & Walsh Asset Management Inc. lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 33.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,309 shares of the technology infrastructure company’s stock after selling 1,696 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Akamai Technologies were worth $317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the period. Bruce G. Allen Investments LLC boosted its stake in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the period. Eastern Bank acquired a new stake in shares of Akamai Technologies in the 3rd quarter worth approximately $71,000. Covestor Ltd lifted its stake in shares of 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 acquiring an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Akamai Technologies in the 3rd quarter worth approximately $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research reports. Scotiabank dropped 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 report on Friday, November 8th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. UBS Group began 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 for the company. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Akamai Technologies Trading Up 4.1 %

Shares of Akamai Technologies stock opened at $94.71 on Wednesday. The stock has a market capitalization of $14.23 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 3.25 and a beta of 0.64. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $94.11 and a 200 day simple moving average of $97.40. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock worth $2,099,996 in the last quarter. 2.00% 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.