Keybank National Association OH raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 22.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,982 shares of the technology infrastructure company’s stock after buying an additional 1,297 shares during the quarter. Keybank National Association OH’s holdings in Akamai Technologies were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc lifted its stake in Akamai Technologies by 3.9% in the third quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock valued at $41,155,000 after buying an additional 31,911 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Akamai Technologies by 2.4% in the third quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock valued at $15,205,000 after buying an additional 7,327 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Akamai Technologies by 23.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock valued at $39,416,000 after buying an additional 151,399 shares during the last quarter. Atria Investments LLC purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $284,000. Finally, Carret Asset Management LLC lifted its stake in Akamai Technologies by 17.3% in the third quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock valued at $709,000 after buying an additional 2,150 shares during the last quarter. Institutional investors own 84.77% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ AKAM) opened at $67.36 on Monday. The stock has a market capitalization of $11,394.06, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 3.01. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $69.56.
A number of equities research analysts have weighed in on AKAM shares. KeyCorp cut Akamai Technologies from a “sector weight” rating to an “underweight” rating and reduced their price objective for the company from $66.32 to $51.00 in a research note on Thursday, January 11th. B. Riley boosted their price objective on Akamai Technologies from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, January 2nd. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 price objective (up previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Buy” and an average target price of $69.03.
In other news, CEO F Thomson Leighton bought 17,537 shares of the stock in a transaction on Friday, December 15th. The shares were bought at an average price of $57.01 per share, with a total value of $999,784.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rick M. Mcconnell sold 48,369 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total value of $2,748,810.27. Following the completion of the sale, the insider now directly owns 45,974 shares in the company, valued at approximately $2,612,702.42. The disclosure for this sale can be found here. Insiders sold 66,799 shares of company stock valued at $3,976,520 in the last quarter. 3.20% of the stock is currently owned by company insiders.
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About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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