Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 200,458 shares of the technology infrastructure company’s stock after buying an additional 6,785 shares during the quarter. Principal Financial Group Inc.’s holdings in Akamai Technologies were worth $20,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in shares of Akamai Technologies by 19.6% during the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after buying an additional 6,724 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Akamai Technologies by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock worth $23,038,000 after acquiring an additional 28,304 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Akamai Technologies by 17.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock worth $20,132,000 after purchasing an additional 27,484 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Akamai Technologies during the first quarter valued at $1,093,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Akamai Technologies during the first quarter valued at about $2,610,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Down 1.5 %

Shares of NASDAQ:AKAM opened at $88.75 on Thursday. The firm has a 50 day simple moving average of $100.23 and a 200 day simple moving average of $96.94. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.33. The company has a market cap of $13.33 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $741,655 in the last three months. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on AKAM. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Robert W. Baird lowered their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Tigress Financial reissued a “strong-buy” rating and issued 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 given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.47.

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.