Swiss National Bank Boosts Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Swiss National Bank grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 452,100 shares of the technology infrastructure company’s stock after acquiring an additional 3,500 shares during the quarter. Swiss National Bank owned about 0.30% of Akamai Technologies worth $45,639,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after purchasing an additional 347,626 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in shares of Akamai Technologies in the second quarter worth about $15,314,000. Renaissance Technologies LLC boosted its position in Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after acquiring an additional 162,700 shares during the last quarter. Distillate Capital Partners LLC purchased a new stake in Akamai Technologies during the 2nd quarter valued at about $14,130,000. Finally, Earnest Partners LLC raised its holdings in Akamai Technologies by 7.6% in the 1st quarter. Earnest Partners LLC now owns 2,102,926 shares of the technology infrastructure company’s stock valued at $228,714,000 after acquiring an additional 149,042 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $87.96 on Thursday. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50-day moving average of $99.33 and a 200 day moving average of $96.48. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird dropped their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Insider Activity

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,500 shares of company stock valued at $1,065,975. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Company 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.