Rhumbline Advisers Grows Stock Position in Akamai Technologies, Inc. $AKAM

Rhumbline Advisers grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 329,861 shares of the technology infrastructure company’s stock after acquiring an additional 7,729 shares during the quarter. Rhumbline Advisers owned 0.23% of Akamai Technologies worth $24,990,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. DLD Asset Management LP boosted its stake in Akamai Technologies by 60.0% in the 2nd quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock worth $1,595,200,000 after purchasing an additional 7,500,000 shares in the last quarter. Norges Bank purchased a new position in shares of Akamai Technologies in the second quarter worth $266,817,000. Nordea Investment Management AB lifted its stake in shares of Akamai Technologies by 39.9% during the third quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock worth $258,739,000 after buying an additional 980,966 shares during the period. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Akamai Technologies by 12.1% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,786,084 shares of the technology infrastructure company’s stock valued at $222,218,000 after buying an additional 301,423 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Akamai Technologies by 4.9% during the second quarter. First Trust Advisors LP now owns 6,061,962 shares of the technology infrastructure company’s stock valued at $483,502,000 after buying an additional 281,526 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 3,320 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $87.30, for a total transaction of $289,836.00. Following the transaction, the chief operating officer owned 7,785 shares in the company, valued at approximately $679,630.50. This represents a 29.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $90.17, for a total value of $450,850.00. Following the completion of the sale, the executive vice president owned 17,513 shares of the company’s stock, valued at $1,579,147.21. This trade represents a 22.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 32,318 shares of company stock valued at $2,967,254. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AKAM. Citigroup lifted their price target on Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Akamai Technologies in a report on Monday, December 29th. Royal Bank Of Canada upped their target price on Akamai Technologies from $80.00 to $90.00 and gave the company a “sector perform” rating in a research report on Monday, January 5th. President Capital raised their price target on shares of Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, TD Cowen upped their price objective on shares of Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a report on Thursday, November 13th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.50.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $111.76 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 2.28. The company has a 50 day moving average price of $92.10 and a 200-day moving average price of $83.31. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $113.50. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 3.44 and a beta of 0.70.

About Akamai Technologies

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.