Benjamin Edwards Inc. Invests $579,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Benjamin Edwards Inc. acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,735 shares of the technology infrastructure company's stock, valued at approximately $579,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Banque Cantonale Vaudoise lifted 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 acquiring an additional 20,633 shares during the period. Principal Financial Group Inc. increased its position in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company's stock worth $20,236,000 after purchasing an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 11,272 shares during the period. Sompo Asset Management Co. Ltd. boosted its holdings in shares of Akamai Technologies by 148.4% in 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 grew its stake in shares of Akamai Technologies by 72.6% during the 3rd quarter. Sawgrass Asset Management LLC now owns 143,269 shares of the technology infrastructure company's stock valued at $14,463,000 after buying an additional 60,241 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Up 0.7 %

AKAM traded up $0.66 on Friday, reaching $98.06. The company's stock had a trading volume of 1,467,700 shares, compared to its average volume of 2,494,291. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17. The business's 50 day moving average is $98.32 and its 200 day moving average is $96.34. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 3.75 and a beta of 0.65.

Analysts Set New Price Targets

Several brokerages recently weighed in on AKAM. Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research report on Monday, December 2nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Tigress Financial reissued a "strong-buy" rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Finally, Scotiabank decreased their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating for the company in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $117.61.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the sale, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company's stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,500 shares of company stock worth $1,058,625. 1.80% of the stock is currently owned by insiders.

Akamai Technologies 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.