Nomura Asset Management Co. Ltd. lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,235 shares of the technology infrastructure company’s stock after acquiring an additional 3,693 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $4,667,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. MML Investors Services LLC lifted its stake in Akamai Technologies by 3.2% in the third quarter. MML Investors Services LLC now owns 21,406 shares of the technology infrastructure company’s stock worth $2,161,000 after purchasing an additional 658 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $935,000. National Bank of Canada FI boosted its holdings in Akamai Technologies by 83.1% during the 3rd quarter. National Bank of Canada FI now owns 77,443 shares of the technology infrastructure company’s stock valued at $7,818,000 after acquiring an additional 35,142 shares during the period. iA Global Asset Management Inc. grew its position in Akamai Technologies by 12.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,145 shares of the technology infrastructure company’s stock valued at $317,000 after acquiring an additional 341 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Akamai Technologies by 26.2% in the third quarter. EP Wealth Advisors LLC now owns 10,983 shares of the technology infrastructure company’s stock worth $1,109,000 after purchasing an additional 2,278 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on AKAM shares. Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $117.61.
Insider Transactions at Akamai Technologies
In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This trade represents a 5.98 % 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 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 shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the transaction, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock valued at $669,425. Corporate insiders own 1.80% of the company’s stock.
Akamai Technologies Trading Down 0.8 %
NASDAQ:AKAM opened at $99.24 on Friday. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.83 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $98.19 and a 200 day moving average of $96.50.
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.
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