abrdn plc Sells 12,000 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

abrdn plc decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 16.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,984 shares of the technology infrastructure company's stock after selling 12,000 shares during the period. abrdn plc's holdings in Akamai Technologies were worth $5,922,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Nordea Investment Management AB raised its position in Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock valued at $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in Akamai Technologies by 6.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock valued at $151,401,000 after purchasing an additional 88,732 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock valued at $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in Akamai Technologies by 20.0% during the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock valued at $84,511,000 after purchasing an additional 139,760 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AKAM shares. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Robert W. Baird decreased their price objective on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 price objective on the stock. Finally, Evercore ISI reiterated an "outperform" rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.10.

Insider Buying and Selling at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now directly 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 document filed with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly 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. In the last three months, insiders have sold 22,282 shares of company stock valued at $2,099,996. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Down 0.3 %

Akamai Technologies stock traded down $0.32 during trading hours on Wednesday, hitting $101.06. 1,336,695 shares of the stock traded hands, compared to its average volume of 1,705,950. The firm's 50-day moving average price is $96.46 and its two-hundred day moving average price is $97.83. 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 $15.18 billion, a PE ratio of 29.90, a PEG ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $126.78.

Akamai Technologies 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.