WASHINGTON TRUST Co Lowers Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

WASHINGTON TRUST Co trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 92.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,750 shares of the technology infrastructure company's stock after selling 109,926 shares during the period. WASHINGTON TRUST Co's holdings in Akamai Technologies were worth $837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC boosted its stake in 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 purchasing an additional 102 shares during the period. Empirical Finance LLC lifted its holdings 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 in the last quarter. Van ECK Associates Corp boosted its position in shares of Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company's stock worth $189,000 after acquiring an additional 105 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after acquiring an additional 114 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company's stock valued at $894,000 after acquiring an additional 115 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction dated 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 owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business's stock in a transaction 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. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,782 shares of company stock valued at $1,523,951 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several research reports. HSBC raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Scotiabank decreased their price objective on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. Citigroup cut their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating for the company in a report on Friday, January 17th. Hsbc Global Res upgraded shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.95.

Akamai Technologies Stock Up 0.9 %

NASDAQ AKAM traded up $0.94 on Wednesday, reaching $100.26. 2,223,046 shares of the stock traded hands, compared to its average volume of 1,723,568. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $113.36. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.57 and a beta of 0.65. The company has a fifty day moving average price of $96.63 and a 200-day moving average price of $97.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Akamai Technologies Company 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.