Principal Financial Group Inc. Grows Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Principal Financial Group Inc. raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,458 shares of the technology infrastructure company's stock after buying an additional 6,785 shares during the period. Principal Financial Group Inc. owned about 0.13% of Akamai Technologies worth $20,236,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its position in shares of Akamai Technologies by 2.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company's stock worth $516,000 after purchasing an additional 102 shares during the period. Van ECK Associates Corp lifted its position in shares of Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company's stock worth $189,000 after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC lifted its position in Akamai Technologies by 85.7% during the 3rd 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 period. Benjamin F. Edwards & Company Inc. lifted its position in Akamai Technologies by 2.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company's stock valued at $473,000 after acquiring an additional 118 shares during the period. Finally, Garrison Asset Management LLC lifted its position in Akamai Technologies by 0.6% during the 2nd quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company's stock valued at $1,915,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of AKAM stock traded down $0.36 during mid-day trading on Thursday, hitting $88.39. The company had a trading volume of 1,627,184 shares, compared to its average volume of 1,655,702. Akamai Technologies, Inc. has a 52-week low of $87.59 and a 52-week high of $129.17. The stock's 50 day moving average price is $100.23 and its 200-day moving average price is $96.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.32. The company has a market capitalization of $13.28 billion, a P/E ratio of 26.26, a P/E/G ratio of 3.36 and a beta of 0.68.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Hsbc Global Res raised shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday. Scotiabank lowered their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating for the company in a research report on Friday, November 8th. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, August 9th. 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. Finally, Tigress Financial restated a "strong-buy" rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies has an average rating of "Moderate Buy" and a consensus price target of $117.47.

Insider Transactions at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the business's stock in a transaction 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 sale, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO Robert Blumofe sold 2,500 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is currently owned by corporate insiders.

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.