LGT Capital Partners LTD. Lowers Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

LGT Capital Partners LTD. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 329,414 shares of the technology infrastructure company's stock after selling 33,302 shares during the period. LGT Capital Partners LTD. owned approximately 0.22% of Akamai Technologies worth $33,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Akamai Technologies by 25.1% in 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 acquiring an additional 347,626 shares during the period. Empyrean Capital Partners LP acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth about $15,314,000. Renaissance Technologies LLC boosted its position in shares of Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company's stock worth $58,678,000 after acquiring an additional 162,700 shares during the last quarter. Distillate Capital Partners LLC purchased a new stake in Akamai Technologies during the second quarter worth approximately $14,130,000. Finally, Earnest Partners LLC lifted its position in shares of Akamai Technologies by 7.6% during the first quarter. Earnest Partners LLC now owns 2,102,926 shares of the technology infrastructure company's stock worth $228,714,000 after purchasing an additional 149,042 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now directly owns 26,703 shares in the company, valued at $2,366,686.89. This trade represents a 13.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares of the company's stock, valued at $1,684,104.87. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,500 shares of company stock valued at $1,065,975. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Up 1.4 %

Shares of Akamai Technologies stock traded up $1.19 on Tuesday, hitting $87.15. 1,673,491 shares of the company traded hands, compared to its average volume of 1,667,850. The company has a market cap of $13.09 billion, a PE ratio of 25.43, a PEG ratio of 3.33 and a beta of 0.68. The company has a 50-day moving average price of $99.65 and a 200 day moving average price of $96.63. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Craig Hallum raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. HSBC raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. TD Cowen raised their price objective on Akamai Technologies from $129.00 to $131.00 and gave the company a "buy" rating in a report on Friday, August 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a report on Friday, August 9th. Finally, DA Davidson reiterated a "buy" rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.47.

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.