Blueshift Asset Management LLC Sells 1,240 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Blueshift Asset Management LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 15.6% during the third quarter, HoldingsChannel reports. The firm owned 6,700 shares of the technology infrastructure company’s stock after selling 1,240 shares during the quarter. Blueshift Asset Management LLC’s holdings in Akamai Technologies were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in Akamai Technologies by 85.7% in the third 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 last quarter. Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 193 shares during the period. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter worth about $28,000. Family Firm Inc. purchased a new position in shares of Akamai Technologies during the 2nd quarter worth about $35,000. Finally, Eastern Bank bought a new position in Akamai Technologies during the 3rd quarter valued at about $71,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AKAM shares. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Robert W. Baird reduced their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Tigress Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $117.47.

Akamai Technologies Stock Up 0.8 %

Shares of AKAM stock opened at $93.86 on Thursday. The stock’s fifty day moving average price is $98.91 and its 200 day moving average price is $96.27. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 11.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the business’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 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. Over the last 90 days, insiders sold 11,500 shares of company stock valued at $1,058,625. 2.00% of the stock is currently owned by corporate insiders.

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.