XTX Topco Ltd Buys New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

XTX Topco Ltd purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,261 shares of the technology infrastructure company's stock, valued at approximately $935,000.

A number of other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings 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 in the last quarter. Innealta Capital LLC purchased a new position in shares of Akamai Technologies during the second quarter valued at approximately $28,000. Family Firm Inc. acquired a new stake in Akamai Technologies during the second quarter worth approximately $35,000. Eastern Bank purchased a new stake in Akamai Technologies in the 3rd quarter worth approximately $71,000. Finally, Covestor Ltd raised its holdings in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock valued at $90,000 after acquiring an additional 358 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company's stock, valued at $2,987,401.90. This trade represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the business's stock in a transaction 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 transaction, the chief technology officer now directly owns 19,510 shares of the company's stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,500 shares of company stock valued at $1,058,625. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. Hsbc Global Res raised shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Tigress Financial reiterated a "strong-buy" rating and issued a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. Finally, Robert W. Baird reduced their target price on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $117.61.

Akamai Technologies Stock Performance

Shares of AKAM stock traded up $1.24 on Wednesday, hitting $100.02. 1,371,859 shares of the stock traded hands, compared to its average volume of 1,678,364. The company has a market capitalization of $15.03 billion, a PE ratio of 29.22, a PEG ratio of 3.74 and a beta of 0.65. The company's fifty day moving average is $98.26 and its 200 day moving average is $96.41. 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 1-year low of $84.70 and a 1-year high of $129.17.

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.