Bridgewater Associates LP Sells 98,574 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Bridgewater Associates LP lowered its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 55.7% during the 3rd quarter, Holdings Channel reports. The firm owned 78,464 shares of the technology infrastructure company’s stock after selling 98,574 shares during the period. Bridgewater Associates LP’s holdings in Akamai Technologies were worth $7,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AKAM. V Square Quantitative Management LLC raised its stake in shares of Akamai Technologies by 2.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after purchasing an additional 102 shares during the period. Empirical Finance LLC increased its holdings in Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after buying an additional 103 shares during the last quarter. Van ECK Associates Corp raised its position in Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares during the period. Farther Finance Advisors LLC boosted its stake 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 valued at $25,000 after acquiring an additional 114 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after acquiring an additional 115 shares during the period. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AKAM shares. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. TD Cowen boosted their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. 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 report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.47.

Akamai Technologies Stock Performance

Shares of AKAM opened at $93.86 on Friday. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17. 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 company has a market cap of $14.10 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. The stock has a 50-day moving average price of $98.83 and a 200-day moving average price of $96.25.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now 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 disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock worth $1,058,625 over the last three months. 1.80% of the stock is owned by 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.