Sovran Advisors LLC Buys New Shares in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sovran Advisors LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,329 shares of the technology infrastructure company's stock, valued at approximately $302,000.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased 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 worth $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock valued at $53,000 after acquiring an additional 155 shares during the last quarter. Eastern Bank acquired a new stake in shares of Akamai Technologies during the 3rd quarter valued at $71,000. Covestor Ltd grew its position in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Akamai Technologies in the 3rd quarter worth about $102,000. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Stock Up 0.4 %

Shares of NASDAQ:AKAM traded up $0.35 during midday trading on Friday, hitting $100.01. 1,466,567 shares of the company's stock were exchanged, compared to its average volume of 1,613,507. The company has a market cap of $15.02 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $114.67. The stock has a 50 day moving average price of $96.60 and a 200-day moving average price of $97.88.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company's stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AKAM has been the topic of several research reports. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Citigroup cut their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Hsbc Global Res raised shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. UBS Group began coverage on Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 price objective for the company. Finally, HSBC upgraded Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $117.95.

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.