Caisse DE Depot ET Placement DU Quebec Cuts Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Caisse DE Depot ET Placement DU Quebec decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 98.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,293 shares of the technology infrastructure company's stock after selling 198,200 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Akamai Technologies were worth $332,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its position 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 worth $4,481,000 after buying an additional 20,633 shares during the last quarter. Principal Financial Group Inc. increased 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 purchasing an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Akamai Technologies by 1.3% during 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 purchasing an additional 11,272 shares during the last quarter. Sompo Asset Management Co. Ltd. increased its position in shares of Akamai Technologies by 148.4% during 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 purchasing an additional 11,890 shares during the last quarter. Finally, Sawgrass Asset Management LLC increased its holdings in Akamai Technologies by 72.6% in the 3rd quarter. Sawgrass Asset Management LLC now owns 143,269 shares of the technology infrastructure company's stock worth $14,463,000 after acquiring an additional 60,241 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Up 0.8 %

NASDAQ AKAM traded up $0.77 during trading on Wednesday, hitting $98.30. The company's stock had a trading volume of 1,529,822 shares, compared to its average volume of 1,684,392. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $14.77 billion, a PE ratio of 28.86, a P/E/G ratio of 3.73 and a beta of 0.65. The business's 50 day simple moving average is $98.47 and its 200-day simple moving average is $96.28. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen increased their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Craig Hallum upgraded Akamai Technologies from a "hold" rating to a "buy" rating and increased their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a report on Friday, August 9th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Finally, Robert W. Baird reduced their target price on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has an average rating of "Moderate Buy" and a consensus price target of $117.61.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated Wednesday, November 27th. The stock was 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 $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the transaction, the executive vice president now owns 26,703 shares of the company's stock, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,058,625 over the last quarter. 2.00% of the stock is currently owned by company insiders.

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.