Avanza Fonder AB Invests $1.07 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Avanza Fonder AB purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,178 shares of the technology infrastructure company's stock, valued at approximately $1,069,000.

A number of other large investors also recently bought and sold shares of AKAM. Farther Finance Advisors LLC boosted its position in shares of Akamai Technologies by 85.7% in the third 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 period. Bruce G. Allen Investments LLC boosted its holdings in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after acquiring an additional 155 shares during the period. Eastern Bank purchased a new position in Akamai Technologies in the 3rd quarter worth approximately $71,000. Covestor Ltd raised its stake in shares of Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies during the third quarter worth $102,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Performance

Shares of AKAM traded up $0.51 during mid-day trading on Monday, reaching $91.01. 2,346,395 shares of the company's stock traded hands, compared to its average volume of 1,235,796. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $13.67 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. The business's 50-day moving average price is $94.02 and its 200-day moving average price is $97.37.

Analyst Ratings Changes

AKAM has been the subject of a number of recent analyst reports. HSBC raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a report on Monday, November 11th. Evercore ISI reaffirmed an "outperform" rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Citigroup decreased their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating for the company in a research report on Friday. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a "neutral" rating and a $110.00 price target for the company. Finally, Oppenheimer upgraded shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $116.10.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares of the company's stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,282 shares of company stock worth $2,099,996. 2.00% of the stock is owned by company insiders.

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.