Burney Co. Sells 810 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Burney Co. decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,446 shares of the technology infrastructure company’s stock after selling 810 shares during the period. Burney Co.’s holdings in Akamai Technologies were worth $904,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the last quarter. Eastern Bank bought a new stake in shares of Akamai Technologies in the third quarter worth about $71,000. Covestor Ltd increased its holdings in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in Akamai Technologies during the 3rd quarter valued at approximately $102,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Trading Down 0.0 %

Akamai Technologies stock opened at $90.50 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 business’s fifty day simple moving average is $94.26 and its two-hundred day simple moving average is $97.31. The company has a market capitalization of $13.60 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64.

Analysts Set New Price Targets

AKAM has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, November 11th. Scotiabank reduced 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 report on Friday, November 8th. Finally, Robert W. Baird lowered their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.85.

Insider Buying and Selling

In related news, 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 transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,282 shares of company stock worth $2,099,996 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.