Disciplined Growth Investors Inc. MN Acquires 88,732 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Disciplined Growth Investors Inc. MN raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,499,760 shares of the technology infrastructure company's stock after acquiring an additional 88,732 shares during the quarter. Akamai Technologies comprises 2.9% of Disciplined Growth Investors Inc. MN's investment portfolio, making the stock its 11th biggest holding. Disciplined Growth Investors Inc. MN owned about 1.00% of Akamai Technologies worth $151,401,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank increased its position in Akamai Technologies by 9.4% in the 2nd quarter. Czech National Bank now owns 29,025 shares of the technology infrastructure company's stock valued at $2,615,000 after buying an additional 2,486 shares in the last quarter. Diversified Trust Co grew its position in Akamai Technologies by 36.4% in the 2nd quarter. Diversified Trust Co now owns 9,013 shares of the technology infrastructure company's stock worth $812,000 after purchasing an additional 2,407 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Akamai Technologies by 6.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,661 shares of the technology infrastructure company's stock valued at $510,000 after buying an additional 328 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Akamai Technologies by 16.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 5,011 shares of the technology infrastructure company's stock worth $451,000 after buying an additional 690 shares in the last quarter. Finally, Addenda Capital Inc. boosted its stake in shares of Akamai Technologies by 17.9% in the 2nd quarter. Addenda Capital Inc. now owns 85,789 shares of the technology infrastructure company's stock worth $7,728,000 after buying an additional 13,007 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. HSBC upgraded 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 note on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Finally, Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $117.61.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company's stock, valued at approximately $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction dated 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 directly owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,500 shares of company stock valued at $1,058,625. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Price Performance

Shares of AKAM traded up $0.24 during midday trading on Tuesday, reaching $99.36. The stock had a trading volume of 567,752 shares, compared to its average volume of 1,676,595. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 3.74 and a beta of 0.65. The company's 50-day moving average is $98.28 and its 200 day moving average is $96.38. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

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.