Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 84.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 334 shares of the technology infrastructure company’s stock after selling 1,856 shares during the quarter. Brooklyn Investment Group’s holdings in Akamai Technologies were worth $34,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AKAM. Janus Henderson Group PLC boosted its holdings in Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after purchasing an additional 6,724 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in Akamai Technologies in the first quarter valued at about $242,000. Swedbank AB purchased a new position in Akamai Technologies in the first quarter valued at about $9,488,000. Davis Capital Management purchased a new position in Akamai Technologies in the second quarter valued at about $590,000. Finally, DNB Asset Management AS boosted its holdings in Akamai Technologies by 13.8% in the second quarter. DNB Asset Management AS now owns 26,015 shares of the technology infrastructure company’s stock valued at $2,343,000 after purchasing an additional 3,145 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction 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 owns 19,510 shares of the company’s stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction 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 sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The trade was a 11.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $1,058,625 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.2 %

Shares of Akamai Technologies stock opened at $94.02 on Friday. The business’s fifty day moving average price is $98.72 and its two-hundred day moving average price is $96.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $14.12 billion, a P/E ratio of 27.88, a PEG ratio of 3.57 and a beta of 0.68. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AKAM. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

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.