Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by CX Institutional

CX Institutional lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,855 shares of the technology infrastructure company’s stock after purchasing an additional 897 shares during the quarter. CX Institutional’s holdings in Akamai Technologies were worth $1,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise grew its stake in Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after acquiring an additional 20,633 shares during the period. Principal Financial Group Inc. grew its stake in Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after acquiring an additional 46,335 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its stake in Akamai Technologies by 148.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock valued at $2,009,000 after acquiring an additional 11,890 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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 note on Monday, November 11th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note 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. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $116.10.

Akamai Technologies Stock Up 1.9 %

Shares of AKAM opened at $97.70 on Friday. The firm has a market cap of $14.68 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.40 and a beta of 0.64. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17. The company’s 50-day moving average price is $94.59 and its 200 day moving average price is $97.44. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.