Glenmede Trust Co. NA Has $20.87 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Glenmede Trust Co. NA lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,764 shares of the technology infrastructure company’s stock after buying an additional 8,559 shares during the quarter. Glenmede Trust Co. NA owned about 0.14% of Akamai Technologies worth $20,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC lifted its stake in Akamai Technologies by 2.0% in the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock valued at $516,000 after buying an additional 102 shares during the period. Empirical Finance LLC raised its position in shares of 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 purchasing an additional 103 shares during the period. Van ECK Associates Corp raised its holdings in Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after buying an additional 105 shares during the period. Farther Finance Advisors LLC lifted 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 buying an additional 114 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Akamai Technologies by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after buying an additional 115 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $93.86 on Thursday. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 3.60 and a beta of 0.68. The company has a 50-day simple moving average of $98.91 and a 200 day simple moving average of $96.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm’s 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,500 shares of company stock valued at $1,058,625. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

AKAM has been the topic of a number of research analyst reports. Scotiabank dropped their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Robert W. Baird reduced their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday, November 11th. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.