5,430 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Purchased by Virtu Financial LLC

Virtu Financial LLC acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,430 shares of the technology infrastructure company’s stock, valued at approximately $548,000.

A number of other large investors have also modified their holdings of the company. V Square Quantitative Management LLC increased its holdings in shares of Akamai Technologies by 2.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after acquiring an additional 102 shares during the period. Empirical Finance LLC increased its holdings in shares of Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after acquiring an additional 103 shares during the period. Van ECK Associates Corp increased its holdings in shares of Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $99.24 on Monday. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $129.17. The company has a 50-day moving average of $98.19 and a two-hundred day moving average of $96.57. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.83 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank dropped their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Robert W. Baird lowered their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Finally, Tigress Financial reissued a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $117.61.

Insiders Place Their Bets

In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $669,425 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.