Virtu Financial LLC Invests $548,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Virtu Financial LLC bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,430 shares of the technology infrastructure company's stock, valued at approximately $548,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its position in Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock valued at $19,018,000 after purchasing an additional 46,335 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after acquiring an additional 202,746 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of Akamai Technologies by 6.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock worth $151,401,000 after acquiring an additional 88,732 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Akamai Technologies by 8.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 46,235 shares of the technology infrastructure company's stock valued at $4,667,000 after purchasing an additional 3,693 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in Akamai Technologies by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 21,406 shares of the technology infrastructure company's stock valued at $2,161,000 after purchasing an additional 658 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company's stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,282 shares of company stock worth $1,733,716. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

AKAM has been the topic of several analyst reports. Tigress Financial restated a "strong-buy" rating and issued a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. HSBC raised Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. Hsbc Global Res upgraded shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Finally, UBS Group began coverage on shares of Akamai Technologies in a research report on Monday. They issued a "neutral" rating and a $110.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.21.

Akamai Technologies Trading Down 2.0 %

Shares of NASDAQ AKAM traded down $1.94 during mid-day trading on Monday, hitting $97.30. 1,525,876 shares of the company traded hands, compared to its average volume of 1,675,576. 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 1 year low of $84.70 and a 1 year high of $129.17. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 3.83 and a beta of 0.65. The business has a 50 day moving average of $98.19 and a two-hundred day moving average of $96.57.

About Akamai Technologies

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.