Bridgewater Associates LP Sells 98,574 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Bridgewater Associates LP cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 55.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,464 shares of the technology infrastructure company’s stock after selling 98,574 shares during the quarter. Bridgewater Associates LP owned 0.05% of Akamai Technologies worth $7,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AKAM. V Square Quantitative Management LLC raised its holdings 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 valued at $516,000 after buying an additional 102 shares during the last quarter. Empirical Finance LLC increased its position in Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after acquiring an additional 103 shares during the period. Van ECK Associates Corp raised its stake 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 valued at $189,000 after acquiring an additional 105 shares during the last quarter. Farther Finance Advisors LLC lifted 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 period. Finally, D.A. Davidson & CO. grew 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 purchasing an additional 115 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on AKAM shares. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Tigress Financial reissued a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Robert W. Baird dropped their price target 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, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Trading Up 0.8 %

NASDAQ AKAM opened at $93.86 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The business has a 50 day moving average price of $98.83 and a 200-day moving average price of $96.25. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 3.60 and a beta of 0.68.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’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 approximately $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock valued at $1,058,625. 1.80% of the stock is owned by company insiders.

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.