Akamai Technologies, Inc. (NASDAQ:AKAM) Position Trimmed by Farmers Trust Co.

Farmers Trust Co. decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,296 shares of the technology infrastructure company’s stock after selling 180 shares during the quarter. Farmers Trust Co.’s holdings in Akamai Technologies were worth $4,428,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of AKAM. Dimensional Fund Advisors LP boosted its position in shares of Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after purchasing an additional 347,626 shares during the period. Geode Capital Management LLC lifted its holdings in Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after buying an additional 202,746 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in Akamai Technologies during the 2nd quarter worth $15,314,000. Renaissance Technologies LLC lifted its stake in Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after buying an additional 162,700 shares during the period. Finally, Distillate Capital Partners LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter valued at $14,130,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 1.3 %

NASDAQ:AKAM traded up $1.24 during trading hours on Wednesday, hitting $93.78. 781,051 shares of the company were exchanged, compared to its average volume of 1,374,893. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 3.83 and a beta of 0.64. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $129.17. The company has a fifty day simple moving average of $95.52 and a 200 day simple moving average of $97.28. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock worth $1,733,716 over the last ninety days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

AKAM has been the topic of several recent research reports. Scotiabank lowered their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. HSBC raised 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. Evercore ISI reissued an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Robert W. Baird dropped their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.85.

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.