Akamai Technologies, Inc. $AKAM Shares Bought by Savant Capital LLC

Savant Capital LLC grew its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 199.9% during the third quarter, HoldingsChannel reports. The firm owned 11,636 shares of the technology infrastructure company’s stock after buying an additional 7,756 shares during the period. Savant Capital LLC’s holdings in Akamai Technologies were worth $882,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp bought a new position in Akamai Technologies during the 2nd quarter valued at $822,000. Rakuten Investment Management Inc. acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at about $5,323,000. Norges Bank bought a new position in shares of Akamai Technologies during the second quarter worth about $266,817,000. Nordea Investment Management AB lifted its position in shares of Akamai Technologies by 39.9% during the third quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock worth $258,739,000 after purchasing an additional 980,966 shares during the last quarter. Finally, National Pension Service grew its stake in Akamai Technologies by 48.5% in the third quarter. National Pension Service now owns 68,111 shares of the technology infrastructure company’s stock worth $5,160,000 after purchasing an additional 22,242 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $90.17, for a total value of $450,850.00. Following the sale, the executive vice president owned 17,513 shares of the company’s stock, valued at $1,579,147.21. This trade represents a 22.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 6,560 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $88.03, for a total transaction of $577,476.80. Following the transaction, the chief financial officer directly owned 16,442 shares of the company’s stock, valued at $1,447,389.26. The trade was a 28.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,818 shares of company stock worth $2,589,254. 2.00% of the stock is owned by company insiders.

Akamai Technologies Price Performance

Shares of AKAM opened at $94.40 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $104.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a fifty day moving average price of $90.51 and a 200 day moving average price of $82.54. The company has a market cap of $13.58 billion, a P/E ratio of 27.68, a PEG ratio of 2.92 and a beta of 0.70.

Analyst Ratings Changes

Several analysts have issued reports on AKAM shares. Piper Sandler upped their price objective on Akamai Technologies from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. HSBC boosted their price target on Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. Royal Bank Of Canada raised their price objective on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Monday, January 5th. Bank of America lowered their target price on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, October 20th. Finally, TD Cowen increased their target price on shares of Akamai Technologies from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Thursday, November 13th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.94.

About Akamai Technologies

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.