Pacer Advisors Inc. boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,643 shares of the technology infrastructure company’s stock after acquiring an additional 6,671 shares during the period. Pacer Advisors Inc.’s holdings in Akamai Technologies were worth $2,325,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKAM. Rexford Capital Inc. raised its holdings in Akamai Technologies by 1.9% during the 4th quarter. Rexford Capital Inc. now owns 5,106 shares of the technology infrastructure company’s stock worth $445,000 after purchasing an additional 93 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Akamai Technologies by 31.8% in the 4th quarter. Assetmark Inc. now owns 444 shares of the technology infrastructure company’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of Akamai Technologies by 45.8% in the 4th quarter. Root Financial Partners LLC now owns 350 shares of the technology infrastructure company’s stock valued at $31,000 after purchasing an additional 110 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of Akamai Technologies by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 5,502 shares of the technology infrastructure company’s stock worth $480,000 after buying an additional 115 shares during the period. Finally, Allworth Financial LP grew its position in shares of Akamai Technologies by 6.3% during the 4th quarter. Allworth Financial LP now owns 2,196 shares of the technology infrastructure company’s stock worth $192,000 after buying an additional 131 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.
Akamai Technologies Price Performance
AKAM opened at $119.87 on Wednesday. The stock has a market cap of $17.43 billion, a P/E ratio of 40.36, a P/E/G ratio of 3.77 and a beta of 0.59. Akamai Technologies, Inc. has a 12 month low of $69.78 and a 12 month high of $165.45. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $128.49 and a 200 day simple moving average of $108.98.
Insider Activity
In other Akamai Technologies news, CTO Robert Blumofe sold 243 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $129.41, for a total transaction of $31,446.63. Following the sale, the chief technology officer directly owned 31,006 shares in the company, valued at approximately $4,012,486.46. This trade represents a 0.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kim Salem-Jackson sold 2,300 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $135.57, for a total transaction of $311,811.00. Following the completion of the transaction, the executive vice president directly owned 59,210 shares in the company, valued at approximately $8,027,099.70. The trade was a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.30% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Robert W. Baird reiterated a “neutral” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Thursday, April 2nd. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Friday, May 8th. Bank of America raised Akamai Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $175.00 in a research note on Wednesday, May 13th. Susquehanna increased their target price on Akamai Technologies from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, May 11th. Finally, Citigroup raised their target price on Akamai Technologies from $110.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Hold” and a consensus price target of $145.29.
Read Our Latest Analysis on AKAM
Akamai Technologies Profile
Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.
The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.
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