Charles Schwab Investment Management Inc. Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Charles Schwab Investment Management Inc. raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 892,356 shares of the technology infrastructure company's stock after purchasing an additional 11,272 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.59% of Akamai Technologies worth $90,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Earnest Partners LLC grew its holdings in Akamai Technologies by 1.3% in the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company's stock worth $191,966,000 after acquiring an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company's stock valued at $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Akamai Technologies by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company's stock worth $127,105,000 after buying an additional 14,347 shares during the period. Renaissance Technologies LLC increased its stake in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company's stock valued at $58,678,000 after buying an additional 162,700 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Akamai Technologies by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 558,291 shares of the technology infrastructure company's stock valued at $50,291,000 after acquiring an additional 14,353 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AKAM. DA Davidson reissued a "buy" rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Tigress Financial reissued a "strong-buy" rating and set a $140.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 29th. 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 research report on Monday, November 11th. Robert W. Baird cut their price objective 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 dropped their price target on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $117.47.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $0.92 during midday trading on Wednesday, hitting $94.02. 225,401 shares of the company's stock traded hands, compared to its average volume of 1,675,495. 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 $14.12 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.60 and a beta of 0.68. The firm has a fifty day moving average of $99.00 and a 200 day moving average of $96.25. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated 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 transaction, the chief technology officer now owns 19,510 shares of the company's stock, valued at $1,728,781.10. This represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares of the company's stock, valued at $2,987,401.90. This represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,500 shares of company stock valued at $965,245. Insiders own 2.00% of the company's stock.

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.