Cascade Investment Advisors Inc. Invests $827,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cascade Investment Advisors Inc. bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 8,645 shares of the technology infrastructure company's stock, valued at approximately $827,000.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in 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 acquiring an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Eastern Bank purchased a new stake in Akamai Technologies in the 3rd quarter worth about $71,000. Covestor Ltd lifted its stake 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. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Akamai Technologies during the third quarter valued at approximately $102,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Up 0.3 %

AKAM traded up $0.30 during trading on Tuesday, hitting $99.97. The stock had a trading volume of 634,090 shares, compared to its average volume of 1,661,633. The stock has a 50 day simple moving average of $94.87 and a two-hundred day simple moving average of $97.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The company has a market capitalization of $15.02 billion, a PE ratio of 29.55, a PEG ratio of 3.40 and a beta of 0.64.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Finally, 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 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $116.10.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the business's 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares of the company's stock, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. 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. 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.