Wilmington Savings Fund Society FSB Purchases Shares of 4,782 Akamai Technologies, Inc. (NASDAQ:AKAM)

Wilmington Savings Fund Society FSB acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,782 shares of the technology infrastructure company’s stock, valued at approximately $483,000.

A number of other hedge funds have also made changes to their positions in AKAM. Farther Finance Advisors LLC lifted its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Innealta Capital LLC acquired a new stake in Akamai Technologies during the second quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $35,000. Eastern Bank acquired a new position in shares of Akamai Technologies in the 3rd quarter valued at $71,000. Finally, Covestor Ltd grew its position in shares of Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The stock was 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 owns 19,510 shares of the company’s stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,282 shares of company stock worth $1,733,716. 1.80% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

Shares of AKAM opened at $97.30 on Tuesday. The company has a quick ratio of 1.33, a current 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. The company has a 50-day simple moving average of $98.12 and a 200-day simple moving average of $96.62. The company has a market capitalization of $14.62 billion, a PE ratio of 28.79, a P/E/G ratio of 3.83 and a beta of 0.65.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AKAM shares. Scotiabank reduced their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. UBS Group assumed coverage on Akamai Technologies in a report on Monday. They issued a “neutral” rating and a $110.00 target price for the company. Tigress Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.21.

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.