CX Institutional Buys 897 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

CX Institutional lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,855 shares of the technology infrastructure company’s stock after purchasing an additional 897 shares during the period. CX Institutional’s holdings in Akamai Technologies were worth $1,038,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its holdings in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after purchasing an additional 20,633 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after acquiring an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after acquiring an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after acquiring an additional 46,335 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in Akamai Technologies by 148.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock worth $2,009,000 after acquiring an additional 11,890 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Monday, November 11th. Robert W. Baird dropped their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the transaction, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is owned by company insiders.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $97.70 on Friday. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The company’s 50 day moving average is $94.59 and its 200 day moving average is $97.44. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $14.68 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 3.40 and a beta of 0.64.

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.