Avanza Fonder AB Invests $1.07 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Avanza Fonder AB purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,178 shares of the technology infrastructure company’s stock, valued at approximately $1,069,000.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares during the period. Bruce G. Allen Investments LLC grew its position in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the last quarter. Eastern Bank purchased a new stake in Akamai Technologies in the third quarter worth $71,000. Covestor Ltd boosted its stake in shares of Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Akamai Technologies in the third quarter worth about $102,000. 94.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. Citigroup decreased their target price on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Akamai Technologies Price Performance

Shares of AKAM opened at $91.01 on Monday. The firm has a market capitalization of $13.67 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. 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 company’s fifty day moving average price is $94.02 and its 200-day moving average price is $97.37. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,282 shares of company stock worth $2,099,996 over the last three months. 2.00% of the stock is currently owned by insiders.

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.