Tobam Sells 15,578 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Tobam reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,252 shares of the technology infrastructure company's stock after selling 15,578 shares during the quarter. Tobam's holdings in Akamai Technologies were worth $3,468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Akamai Technologies during the second quarter worth $984,000. Czech National Bank increased its stake in Akamai Technologies by 6.3% in the third quarter. Czech National Bank now owns 30,867 shares of the technology infrastructure company's stock valued at $3,116,000 after purchasing an additional 1,842 shares in the last quarter. GAMMA Investing LLC increased its position in Akamai Technologies by 85.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,852 shares of the technology infrastructure company's stock valued at $288,000 after buying an additional 1,312 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Akamai Technologies by 32.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 30,834 shares of the technology infrastructure company's stock worth $3,111,000 after buying an additional 7,484 shares during the period. Finally, Chickasaw Capital Management LLC acquired a new stake in Akamai Technologies in the third quarter valued at approximately $202,000. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Performance

NASDAQ AKAM traded down $1.18 during trading hours on Tuesday, hitting $100.92. The company's stock had a trading volume of 644,314 shares, compared to its average volume of 1,681,081. 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 market cap of $15.16 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company's 50 day simple moving average is $96.38 and its two-hundred day simple moving average is $97.80. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $128.62.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Evercore ISI restated an "outperform" rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Scotiabank decreased their price objective on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating for the company in a report on Friday, November 8th. Citigroup lowered their price target on Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Finally, UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $116.10.

Insiders Place Their Bets

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the firm'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 transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares of the company's stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,282 shares of company stock worth $2,099,996. Company insiders own 1.80% of the company's stock.

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.