Needham Investment Management LLC Has $18.17 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Needham Investment Management LLC lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 33.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 180,000 shares of the technology infrastructure company’s stock after buying an additional 45,000 shares during the period. Akamai Technologies makes up about 1.4% of Needham Investment Management LLC’s portfolio, making the stock its 23rd largest position. Needham Investment Management LLC’s holdings in Akamai Technologies were worth $18,171,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. DNB Asset Management AS lifted its holdings in shares of Akamai Technologies by 13.8% during the 2nd quarter. DNB Asset Management AS now owns 26,015 shares of the technology infrastructure company’s stock valued at $2,343,000 after purchasing an additional 3,145 shares in the last quarter. Versant Capital Management Inc increased its holdings in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Akamai Technologies by 1.9% in the 2nd quarter. Park Avenue Securities LLC now owns 7,237 shares of the technology infrastructure company’s stock valued at $652,000 after purchasing an additional 134 shares during the period. MADDEN SECURITIES Corp acquired a new stake in Akamai Technologies in the 2nd quarter valued at approximately $2,111,000. Finally, CX Institutional lifted its stake in Akamai Technologies by 5.3% in the 2nd quarter. CX Institutional now owns 8,667 shares of the technology infrastructure company’s stock valued at $781,000 after acquiring an additional 439 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. 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. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.61.

Insiders Place Their Bets

In other news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the 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 completion of the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $1,058,625 over the last three months. Insiders own 2.00% of the company’s stock.

Akamai Technologies Price Performance

AKAM stock traded up $0.07 during mid-day trading on Tuesday, hitting $98.00. The stock had a trading volume of 264,728 shares, compared to its average volume of 1,677,865. The firm has a fifty day simple moving average of $98.61 and a 200 day simple moving average of $96.26. The firm has a market capitalization of $14.72 billion, a P/E ratio of 28.97, a P/E/G ratio of 3.58 and a beta of 0.65. 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 52 week low of $84.70 and a 52 week high of $129.17.

Akamai Technologies Company 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.