Glenmede Trust Co. NA Has $20.87 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Glenmede Trust Co. NA boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,764 shares of the technology infrastructure company’s stock after purchasing an additional 8,559 shares during the period. Glenmede Trust Co. NA’s holdings in Akamai Technologies were worth $20,873,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new position in Akamai Technologies in the 2nd quarter valued at approximately $35,000. Finally, Eastern Bank acquired a new stake in Akamai Technologies in the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the sale, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $1,058,625 over the last ninety days. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. Finally, Scotiabank dropped their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Stock Up 0.8 %

AKAM stock opened at $93.86 on Thursday. 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, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The stock’s 50 day simple moving average is $98.91 and its 200 day simple moving average is $96.27. The company has a market cap of $14.10 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68.

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.