Avanza Fonder AB Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Avanza Fonder AB purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,178 shares of the technology infrastructure company’s stock, valued at approximately $1,069,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of 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 buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares in the last quarter. Eastern Bank purchased a new stake in Akamai Technologies during the 3rd quarter valued at about $71,000. Covestor Ltd lifted its stake in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $102,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. The trade was a 13.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,282 shares of company stock valued at $2,099,996. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $91.01 on Monday. 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 firm has a market cap of $13.67 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. The company’s 50 day moving average is $94.02 and its two-hundred day moving average is $97.37.

Analyst Upgrades and Downgrades

Several research firms recently commented on AKAM. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. UBS Group began coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Citigroup reduced their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.10.

About Akamai Technologies

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.