Stoneridge Investment Partners LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Stoneridge Investment Partners LLC bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,937 shares of the technology infrastructure company's stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after buying an additional 155 shares in the last quarter. Eastern Bank acquired a new stake in shares of Akamai Technologies in the third quarter valued at about $71,000. Covestor Ltd lifted its stake in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after buying an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Akamai Technologies during the third quarter worth about $102,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on AKAM shares. HSBC upgraded shares of 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. Evercore ISI reaffirmed an "outperform" rating and issued a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Robert W. Baird lowered their price objective on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a report on Monday, December 2nd. Finally, Citigroup reduced their price target on Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.10.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,282 shares of company stock valued at $2,099,996. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Trading Down 0.3 %

Akamai Technologies stock traded down $0.32 during midday trading on Wednesday, reaching $101.06. 1,336,695 shares of the stock traded hands, compared to its average volume of 1,705,950. The firm has a market cap of $15.18 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. 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 50-day simple moving average of $96.52 and a two-hundred day simple moving average of $97.85. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $126.78.

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.