Advisors Asset Management Inc. Purchases 354 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Advisors Asset Management Inc. grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,018 shares of the technology infrastructure company’s stock after buying an additional 354 shares during the quarter. Advisors Asset Management Inc.’s holdings in Akamai Technologies were worth $1,415,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Versant Capital Management Inc boosted its stake in shares of Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter worth about $28,000. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter worth about $31,000. Finally, Family Firm Inc. bought a new position in Akamai Technologies during the 2nd quarter valued at about $35,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Up 1.9 %

NASDAQ AKAM opened at $94.64 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a market capitalization of $14.22 billion, a PE ratio of 28.00, a P/E/G ratio of 3.53 and a beta of 0.68. The stock has a 50-day simple moving average of $99.00 and a 200 day simple moving average of $96.25.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 11.53 % decrease in their position. The transaction 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 Akamai Technologies stock in a transaction dated Friday, November 15th. The stock was 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 approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,500 shares of company stock worth $965,245 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. TD Cowen raised their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Scotiabank reduced their price target on shares of 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

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.