Stoneridge Investment Partners LLC Purchases New Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Stoneridge Investment Partners LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,937 shares of the technology infrastructure company’s stock, valued at approximately $281,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Nordea Investment Management AB increased its stake in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after buying an additional 138,380 shares during the period. Disciplined Growth Investors Inc. MN raised its position in Akamai Technologies by 6.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after buying an additional 88,732 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock worth $87,188,000 after acquiring an additional 74,373 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Scotiabank reduced their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. Finally, Citigroup lowered their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.10.

Akamai Technologies Trading Up 0.0 %

Shares of AKAM stock opened at $99.64 on Friday. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 3.56 and a beta of 0.65. 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 firm has a 50-day moving average price of $96.30 and a 200 day moving average price of $97.74. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17.

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.