Opes Wealth Management LLC Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Opes Wealth Management LLC reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,744 shares of the technology infrastructure company’s stock after selling 703 shares during the period. Opes Wealth Management LLC’s holdings in Akamai Technologies were worth $454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its position in Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after purchasing an additional 20,633 shares in the last quarter. Principal Financial Group Inc. increased its position in Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares in the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $827,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AKAM. Citigroup lowered their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Monday, December 2nd. 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 research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.95.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $100.01 on Friday. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $114.67. The company has a market cap of $15.02 billion, a PE ratio of 29.59, a P/E/G ratio of 3.56 and a beta of 0.65. 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 fifty day moving average price of $96.60 and a two-hundred day moving average price of $97.88.

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.