Swedbank AB Acquires 4,689 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Swedbank AB raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,497 shares of the technology infrastructure company’s stock after buying an additional 4,689 shares during the quarter. Swedbank AB’s holdings in Akamai Technologies were worth $9,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pitcairn Co. lifted its stake in Akamai Technologies by 18.4% in the 3rd quarter. Pitcairn Co. now owns 5,982 shares of the technology infrastructure company’s stock worth $604,000 after purchasing an additional 928 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Akamai Technologies in the third quarter worth $502,000. Charles Schwab Investment Management Inc. raised its position in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Akamai Technologies during the third quarter valued at $345,000. Finally, First Horizon Advisors Inc. grew its position in Akamai Technologies by 14.1% during the third quarter. First Horizon Advisors Inc. now owns 149,253 shares of the technology infrastructure company’s stock worth $15,067,000 after buying an additional 18,422 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AKAM. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday, November 11th. DA Davidson reissued a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 15th. Robert W. Baird cut their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, TD Cowen raised their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $93.10 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The business has a 50 day moving average price of $99.00 and a 200-day moving average price of $96.25. The firm has a market cap of $13.99 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.53 and a beta of 0.68.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at $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 SEC, which is available through this link. 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 transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock valued at $965,245 in the last quarter. Company insiders own 2.00% of the company’s stock.

Akamai Technologies 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.