Worldquant Millennium Advisors LLC Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Worldquant Millennium Advisors LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 131,876 shares of the technology infrastructure company's stock, valued at approximately $13,313,000. Worldquant Millennium Advisors LLC owned 0.09% of Akamai Technologies as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AKAM. Banque Cantonale Vaudoise boosted its holdings in shares of Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company's stock worth $4,481,000 after buying an additional 20,633 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Akamai Technologies by 3.5% during 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. boosted its stake in Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after acquiring an additional 11,272 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its holdings in Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company's stock worth $2,009,000 after purchasing an additional 11,890 shares during the period. Finally, Sawgrass Asset Management LLC increased its stake in Akamai Technologies by 72.6% in the third quarter. Sawgrass Asset Management LLC now owns 143,269 shares of the technology infrastructure company's stock valued at $14,463,000 after purchasing an additional 60,241 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 2,500 shares of the firm's stock in a transaction on Friday, November 15th. The stock was 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 $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies 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 completion of the transaction, the director now owns 15,719 shares of the company's stock, 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. Over the last 90 days, insiders have sold 11,500 shares of company stock valued at $1,058,625. Company insiders own 1.80% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM traded up $0.66 during midday trading on Friday, reaching $98.06. The company had a trading volume of 1,467,700 shares, compared to its average volume of 2,494,291. The stock has a market cap of $14.73 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.75 and a beta of 0.65. The company's 50 day moving average price is $98.32 and its 200 day moving average price is $96.34. The company has a current ratio of 1.33, a quick 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AKAM shares. Scotiabank cut their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a research report on Friday, November 8th. HSBC upgraded Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Tigress Financial reaffirmed a "strong-buy" rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $117.61.

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.