Exchange Traded Concepts LLC Purchases 1,968 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Exchange Traded Concepts LLC grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,617 shares of the technology infrastructure company’s stock after purchasing an additional 1,968 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Akamai Technologies were worth $4,650,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC boosted its position in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares in the last quarter. Eastern Bank acquired a new stake in Akamai Technologies during the third quarter worth approximately $71,000. Covestor Ltd increased its holdings in Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Akamai Technologies in the third quarter valued at approximately $102,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of the 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 completion of the transaction, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,282 shares of company stock valued at $2,099,996. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Finally, Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Akamai Technologies Stock Performance

AKAM stock opened at $97.70 on Friday. 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 market cap of $14.68 billion, a PE ratio of 28.91, a P/E/G ratio of 3.40 and a beta of 0.64. The business has a 50 day moving average of $94.59 and a 200-day moving average of $97.41. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

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.