Teachers Retirement System of The State of Kentucky boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 32.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,388 shares of the technology infrastructure company's stock after acquiring an additional 46,335 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.13% of Akamai Technologies worth $19,018,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in AKAM. 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 valued at $25,000 after purchasing an additional 114 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the second quarter worth $28,000. Family Firm Inc. purchased a new stake in Akamai Technologies during the second quarter valued at $35,000. Eastern Bank bought a new position in Akamai Technologies in the third quarter valued at about $71,000. Finally, Covestor Ltd boosted its position in Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after purchasing an additional 358 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.
Akamai Technologies Trading Down 0.0 %
NASDAQ AKAM traded down $0.02 during trading hours on Thursday, hitting $100.00. 1,269,940 shares of the company were exchanged, compared to its average volume of 1,676,662. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $98.24 and a 200 day moving average price of $96.46. The stock has a market cap of $15.02 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.74 and a beta of 0.65.
Insider Transactions at Akamai Technologies
In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company's stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares of the company's stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % 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 worth $1,058,625. 1.80% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
AKAM has been the subject of several research reports. Tigress Financial reaffirmed a "strong-buy" rating and set a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Scotiabank decreased their price target 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 Global Res raised shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Finally, Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of "Moderate Buy" and an average target price of $117.61.
View Our Latest Analysis on Akamai Technologies
Akamai Technologies Profile
(
Free Report)
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.
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