Charles Schwab Investment Management Inc. Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Charles Schwab Investment Management Inc. increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 892,356 shares of the technology infrastructure company’s stock after purchasing an additional 11,272 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.59% of Akamai Technologies worth $90,083,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in shares of Akamai Technologies during the 1st quarter valued at $31,000. Janus Henderson Group PLC increased its stake in shares of Akamai Technologies by 19.6% in the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after purchasing an additional 6,724 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Akamai Technologies by 1.9% in the 1st quarter. California State Teachers Retirement System now owns 254,130 shares of the technology infrastructure company’s stock worth $27,639,000 after buying an additional 4,753 shares during the period. Tidal Investments LLC boosted its holdings in Akamai Technologies by 180.8% in the 1st quarter. Tidal Investments LLC now owns 37,566 shares of the technology infrastructure company’s stock worth $4,086,000 after buying an additional 24,189 shares during the period. Finally, Garner Asset Management Corp raised its holdings in Akamai Technologies by 13.5% during the 1st quarter. Garner Asset Management Corp now owns 2,062 shares of the technology infrastructure company’s stock valued at $224,000 after acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AKAM shares. Scotiabank reduced their price target on 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. TD Cowen upped their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $125.00 in a report on Friday, August 9th. Finally, DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. The trade was a 13.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,500 shares of company stock worth $965,245. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $93.10 on Wednesday. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day moving average of $99.00 and a 200 day moving average of $96.25. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.53 and a beta of 0.68.

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.