49,497 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 49,497 shares of the technology infrastructure company's stock, valued at approximately $4,734,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock worth $84,511,000 after purchasing an additional 139,760 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Akamai Technologies in the 3rd quarter worth $13,313,000. Finally, Invenomic Capital Management LP lifted its holdings in shares of Akamai Technologies by 252.2% in the 3rd quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company's stock worth $17,766,000 after purchasing an additional 126,021 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded down $0.64 on Tuesday, reaching $99.37. 1,733,349 shares of the company's stock were exchanged, compared to its average volume of 1,686,015. The stock has a fifty day simple moving average of $96.62 and a 200-day simple moving average of $97.91. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $113.36. 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 firm has a market cap of $14.93 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 3.56 and a beta of 0.65.

Analyst Upgrades and Downgrades

AKAM has been the topic of a number of recent research reports. HSBC upgraded Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a report on Monday, November 11th. Robert W. Baird cut their target price on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Evercore ISI reissued an "outperform" rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Citigroup lowered their price target on Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Finally, Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Monday, December 2nd. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.95.

Insider Buying and Selling

In other Akamai Technologies 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,782 shares of company stock valued at $1,523,951. 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.