D.A. Davidson & CO. raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,081 shares of the technology infrastructure company’s stock after purchasing an additional 368 shares during the quarter. D.A. Davidson & CO.’s holdings in Akamai Technologies were worth $310,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its holdings in shares of Akamai Technologies by 2,426.2% during the third quarter. Canada Pension Plan Investment Board now owns 4,253,887 shares of the technology infrastructure company’s stock valued at $311,172,000 after acquiring an additional 4,085,498 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Akamai Technologies during the third quarter valued at approximately $80,395,000. First Trust Advisors LP raised its holdings in shares of Akamai Technologies by 18.1% during the third quarter. First Trust Advisors LP now owns 4,554,723 shares of the technology infrastructure company’s stock valued at $333,178,000 after acquiring an additional 699,457 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Akamai Technologies by 41.1% during the third quarter. Janus Henderson Group PLC now owns 1,640,017 shares of the technology infrastructure company’s stock valued at $119,967,000 after acquiring an additional 477,914 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Akamai Technologies by 283.5% during the third quarter. Bank of Montreal Can now owns 562,035 shares of the technology infrastructure company’s stock valued at $41,113,000 after acquiring an additional 415,497 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

In other news, SVP Aaron Ahola sold 1,122 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $67.81, for a total value of $76,082.82. Following the sale, the senior vice president now directly owns 4,035 shares of the company’s stock, valued at $273,613.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Several brokerages recently weighed in on AKAM. TheStreet raised Akamai Technologies from a “c+” rating to a “b-” rating in a research note on Friday, November 16th. Cowen cut Akamai Technologies from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $86.00 to $73.00 in a research note on Wednesday, January 2nd. Zacks Investment Research cut Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. Morgan Stanley raised Akamai Technologies from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $82.00 to $79.00 in a research note on Tuesday, January 15th. Finally, Piper Jaffray Companies reduced their price target on Akamai Technologies to $84.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 8th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $80.74.

Shares of AKAM stock opened at $67.09 on Monday. The firm has a market capitalization of $10.93 billion, a P/E ratio of 28.67, a PEG ratio of 1.51 and a beta of 0.69. Akamai Technologies, Inc. has a twelve month low of $57.18 and a twelve month high of $83.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.03 and a current ratio of 2.03.

Akamai Technologies announced that its board has approved a share repurchase program on Monday, October 29th that authorizes the company to repurchase $1.10 billion in outstanding shares. This repurchase authorization authorizes the technology infrastructure company to repurchase up to 10.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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Akamai Technologies Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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