First Horizon Advisors Inc. Grows Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Horizon Advisors Inc. increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,253 shares of the technology infrastructure company’s stock after buying an additional 18,422 shares during the quarter. First Horizon Advisors Inc.’s holdings in Akamai Technologies were worth $15,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Earnest Partners LLC grew its stake in Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after purchasing an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Akamai Technologies by 25.1% in the second 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 during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Akamai Technologies by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares in the last quarter. Renaissance Technologies LLC raised its stake in Akamai Technologies by 33.3% in the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Akamai Technologies by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 558,291 shares of the technology infrastructure company’s stock worth $50,291,000 after buying an additional 14,353 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

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 sale, the chief technology officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s 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 $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. Insiders sold 11,500 shares of company stock valued at $1,065,975 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AKAM shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a report on Thursday, August 15th. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. 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. TD Cowen increased their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Trading Up 1.6 %

Shares of Akamai Technologies stock opened at $87.36 on Wednesday. The company has a 50-day moving average of $99.51 and a two-hundred day moving average of $96.54. The stock has a market cap of $13.12 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

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.