Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,653 shares of the technology infrastructure company's stock after selling 7,400 shares during the period. Fifth Third Bancorp's holdings in Akamai Technologies were worth $3,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC raised its position 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 acquiring an additional 155 shares during the period. Eastern Bank acquired a new position in shares of Akamai Technologies in the third quarter worth about $71,000. Covestor Ltd raised its position in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after acquiring an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies in the third quarter worth about $102,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares of the company's stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This trade 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 worth $2,099,996. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Down 1.6 %

Shares of AKAM traded down $1.58 during midday trading on Friday, reaching $99.90. The stock had a trading volume of 1,526,411 shares, compared to its average volume of 1,710,913. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The company's fifty day simple moving average is $95.59 and its two-hundred day simple moving average is $97.59. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 3.59 and a beta of 0.64. 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

A number of brokerages have weighed in on AKAM. UBS Group began coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a "neutral" rating and a $110.00 price objective for the company. Robert W. Baird dropped 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 note on Monday, November 11th. HSBC raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Citigroup dropped their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Finally, Evercore ISI restated an "outperform" rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $116.10.

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.