Caprock Group LLC Invests $252,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Caprock Group LLC purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, Holdings Channel reports. The fund purchased 2,492 shares of the technology infrastructure company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. Dimensional Fund Advisors LP boosted its stake in Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Akamai Technologies during the second quarter valued at $15,314,000. Renaissance Technologies LLC increased its holdings in Akamai Technologies by 33.3% in the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after buying an additional 162,700 shares in the last quarter. Distillate Capital Partners LLC purchased a new position in Akamai Technologies in the 2nd quarter worth about $14,130,000. Finally, Swedbank AB purchased a new stake in shares of Akamai Technologies during the 1st quarter valued at about $9,488,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Up 2.0 %

AKAM opened at $92.90 on Monday. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $99.09 and a two-hundred day simple moving average of $96.31. The company has a market capitalization of $13.96 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 3.47 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AKAM. Robert W. Baird decreased their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. DA Davidson reiterated a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Scotiabank dropped their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.47.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 11.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $1,065,975 in the last quarter. 1.80% of the stock is currently owned by insiders.

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.