Holocene Advisors LP Sells 35,472 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Holocene Advisors LP trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 79.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,304 shares of the technology infrastructure company's stock after selling 35,472 shares during the quarter. Holocene Advisors LP's holdings in Akamai Technologies were worth $939,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. V Square Quantitative Management LLC lifted its holdings in shares of Akamai Technologies by 2.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company's stock worth $516,000 after acquiring an additional 102 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company's stock worth $538,000 after buying an additional 103 shares during the period. Van ECK Associates Corp increased its stake in shares of Akamai Technologies by 6.1% in the third 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 increased its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock worth $25,000 after buying an additional 114 shares during the period. Finally, D.A. Davidson & CO. increased its stake 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 worth $894,000 after buying an additional 115 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Up 0.7 %

Akamai Technologies stock traded up $0.66 during mid-day trading on Friday, reaching $98.06. The stock had a trading volume of 1,467,700 shares, compared to its average volume of 2,494,291. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.75 and a beta of 0.65. The company has a 50-day moving average price of $98.32 and a two-hundred day moving average price of $96.34. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AKAM shares. DA Davidson reaffirmed a "buy" rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. Craig Hallum raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, August 9th. Robert W. Baird reduced their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. Finally, Tigress Financial reissued a "strong-buy" rating and set a $140.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $117.61.

Insider Buying and Selling

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $1,058,625 in the last quarter. Corporate insiders own 1.80% of the company's stock.

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.