Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,253 shares of the technology infrastructure company's stock after purchasing an additional 18,422 shares during the period. First Horizon Advisors Inc. owned about 0.10% of Akamai Technologies worth $15,067,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company's stock valued at $4,462,000 after purchasing an additional 6,724 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 valued at $20,236,000 after buying an additional 6,785 shares in the last quarter. Sawgrass Asset Management LLC increased its position in Akamai Technologies by 72.6% in the 3rd quarter. Sawgrass Asset Management LLC now owns 143,269 shares of the technology infrastructure company's stock worth $14,463,000 after purchasing an additional 60,241 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter valued at about $1,093,000. Finally, Quadrature Capital Ltd bought a new position in Akamai Technologies during the first quarter valued at approximately $2,610,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM traded up $0.60 during mid-day trading on Wednesday, reaching $87.96. The company's stock had a trading volume of 1,517,044 shares, compared to its average volume of 1,670,278. The firm has a market capitalization of $13.21 billion, a PE ratio of 25.85, a P/E/G ratio of 3.33 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. 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 stock has a fifty day moving average of $99.51 and a two-hundred day moving average of $96.54.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the transaction, the executive vice president now owns 26,703 shares of the company's stock, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $1,065,975 in the last three months. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AKAM has been the topic of several research reports. Needham & Company LLC restated a "hold" rating on shares of Akamai Technologies in a report on Friday, August 9th. Craig Hallum upgraded Akamai Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $110.00 to $125.00 in a report on Friday, August 9th. Hsbc Global Res raised Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Tigress Financial restated a "strong-buy" rating and set a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. Finally, TD Cowen lifted their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $117.47.

Akamai Technologies Company 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.