Brighton Jones LLC Sells 1,908 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Brighton Jones LLC lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 48.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,994 shares of the technology infrastructure company’s stock after selling 1,908 shares during the period. Brighton Jones LLC’s holdings in Akamai Technologies were worth $201,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in Akamai Technologies during the third quarter worth about $30,470,000. Private Advisor Group LLC lifted its stake in shares of Akamai Technologies by 8.0% in the third quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after buying an additional 477 shares in the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies in the third quarter worth approximately $71,000. Signaturefd LLC lifted its stake in shares of Akamai Technologies by 10.1% in the third quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after buying an additional 129 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Akamai Technologies by 8.5% in the third quarter. Sequoia Financial Advisors LLC now owns 30,292 shares of the technology infrastructure company’s stock worth $3,058,000 after buying an additional 2,379 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock valued at $741,655 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Down 0.8 %

Shares of AKAM stock opened at $101.97 on Monday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 3.31 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company’s fifty day moving average price is $100.99 and its 200-day moving average price is $97.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. Akamai Technologies’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AKAM shares. HSBC upgraded shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 target price on the stock in a research note on Wednesday, July 24th. Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. TD Cowen boosted their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and an average price target of $116.47.

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.