MADDEN SECURITIES Corp Sells 2,685 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

MADDEN SECURITIES Corp cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 48.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,855 shares of the technology infrastructure company's stock after selling 2,685 shares during the quarter. MADDEN SECURITIES Corp's holdings in Akamai Technologies were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AKAM. Sivia Capital Partners LLC bought a new position in Akamai Technologies in the third quarter valued at approximately $219,000. CX Institutional increased its stake in Akamai Technologies by 14.9% in the third quarter. CX Institutional now owns 9,958 shares of the technology infrastructure company's stock valued at $1,005,000 after acquiring an additional 1,291 shares during the last quarter. Creative Planning increased its stake in Akamai Technologies by 1.5% in the third quarter. Creative Planning now owns 108,539 shares of the technology infrastructure company's stock valued at $10,957,000 after acquiring an additional 1,569 shares during the last quarter. Swedbank AB increased its stake in Akamai Technologies by 5.3% in the third quarter. Swedbank AB now owns 92,497 shares of the technology infrastructure company's stock valued at $9,338,000 after acquiring an additional 4,689 shares during the last quarter. Finally, Asset Dedication LLC bought a new position in Akamai Technologies in the third quarter valued at approximately $135,000. 94.28% of the stock is owned by institutional investors.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the business's 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 owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock worth $1,523,951 over the last quarter. Company insiders own 1.80% of the company's stock.

Akamai Technologies Trading Up 0.4 %

AKAM stock traded up $0.35 during midday trading on Friday, hitting $100.01. The stock had a trading volume of 1,466,567 shares, compared to its average volume of 1,706,579. The firm has a market cap of $15.02 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $114.67. The business has a fifty day moving average price of $96.60 and a two-hundred day moving average price of $97.88.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. Hsbc Global Res raised shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating 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 target price on the stock in a research note on Monday, November 11th. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a "neutral" rating and a $110.00 target price on the stock. Finally, Robert W. Baird decreased their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $116.10.

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.