D.A. Davidson & CO. Raises Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

D.A. Davidson & CO. boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,860 shares of the technology infrastructure company’s stock after purchasing an additional 115 shares during the quarter. D.A. Davidson & CO.’s holdings in Akamai Technologies were worth $894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC increased its position in shares of Akamai Technologies by 2.0% in the third 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 in the last quarter. Empirical Finance LLC increased its holdings in Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after purchasing an additional 103 shares in the last quarter. Van ECK Associates Corp raised its position in Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC raised its position in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Akamai Technologies by 2.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after purchasing an additional 118 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Up 0.2 %

NASDAQ AKAM opened at $94.02 on Monday. The firm has a market capitalization of $14.12 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.68. 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 simple moving average of $98.61 and a 200-day simple moving average of $96.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen raised their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. DA Davidson reiterated a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

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 stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $1,058,625 over the last quarter. Insiders own 1.80% of the company’s stock.

About Akamai Technologies

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.