Systematic Financial Management LP lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 626.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,645 shares of the technology infrastructure company’s stock after acquiring an additional 30,735 shares during the quarter. Systematic Financial Management LP’s holdings in Akamai Technologies were worth $3,110,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in AKAM. Whittier Trust Co. of Nevada Inc. grew its position in shares of Akamai Technologies by 295.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 336 shares of the technology infrastructure company’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Akamai Technologies by 130.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock worth $26,000 after acquiring an additional 195 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Akamai Technologies by 566.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 340 shares of the technology infrastructure company’s stock worth $26,000 after acquiring an additional 289 shares in the last quarter. JFS Wealth Advisors LLC grew its position in shares of Akamai Technologies by 626.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 305 shares of the technology infrastructure company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Akamai Technologies in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 94.28% of the company’s stock.
Akamai Technologies Stock Performance
NASDAQ:AKAM opened at $147.23 on Monday. Akamai Technologies, Inc. has a 12-month low of $69.78 and a 12-month high of $165.45. The firm has a market capitalization of $21.40 billion, a P/E ratio of 49.57, a P/E/G ratio of 4.60 and a beta of 0.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 2.06. The business has a 50 day simple moving average of $116.07 and a 200 day simple moving average of $100.65.
Insider Buying and Selling at Akamai Technologies
In other Akamai Technologies news, Director Madhu Ranganathan sold 3,131 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $102.00, for a total transaction of $319,362.00. Following the completion of the transaction, the director owned 9,160 shares in the company, valued at approximately $934,320. The trade was a 25.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Anthony P. Williams sold 15,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $104.29, for a total value of $1,564,350.00. Following the transaction, the executive vice president owned 22,064 shares of the company’s stock, valued at $2,301,054.56. This trade represents a 40.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 53,954 shares of company stock worth $5,511,371. 2.30% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have recently commented on AKAM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Akamai Technologies in a research report on Friday, March 27th. Oppenheimer lifted their target price on Akamai Technologies from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Raymond James Financial lifted their target price on Akamai Technologies from $140.00 to $170.00 in a research report on Monday, May 11th. Morgan Stanley lifted their target price on Akamai Technologies from $120.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Susquehanna boosted their price objective on Akamai Technologies from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Monday, May 11th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Akamai Technologies has an average rating of “Hold” and an average target price of $145.29.
Get Our Latest Research Report on Akamai Technologies
Akamai Technologies Company Profile
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.
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