Pitcairn Co. Has $604,000 Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Pitcairn Co. increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,982 shares of the technology infrastructure company’s stock after acquiring an additional 928 shares during the quarter. Pitcairn Co.’s holdings in Akamai Technologies were worth $604,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position 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 valued at $25,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc lifted its holdings in Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC acquired a new position in Akamai Technologies in the second quarter valued at approximately $28,000. EntryPoint Capital LLC bought a new position in Akamai Technologies in the first quarter valued at approximately $31,000. Finally, Family Firm Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $35,000. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the sale, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,500 shares of company stock worth $965,245. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AKAM. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Robert W. Baird lowered their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. TD Cowen lifted their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Trading Up 1.9 %

NASDAQ:AKAM opened at $94.64 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The company has a market cap of $14.22 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 3.53 and a beta of 0.68. The business has a 50 day moving average price of $99.00 and a two-hundred day moving average price of $96.25.

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.