Metis Global Partners LLC Increases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Metis Global Partners LLC increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,471 shares of the technology infrastructure company’s stock after acquiring an additional 450 shares during the period. Metis Global Partners LLC’s holdings in Akamai Technologies were worth $855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Akamai Technologies by 19.6% in the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after purchasing an additional 6,724 shares during the period. Principal Financial Group Inc. raised its holdings in Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Akamai Technologies during the first quarter valued at $1,093,000. Quadrature Capital Ltd bought a new stake in shares of Akamai Technologies during the 1st quarter valued at $2,610,000. Finally, Vanguard Group Inc. grew its position in shares of Akamai Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after buying an additional 124,359 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 1.0 %

AKAM stock opened at $87.43 on Monday. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 3.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.33. The business’s 50-day moving average is $99.84 and its two-hundred day moving average is $96.73. Akamai Technologies, Inc. has a fifty-two week low of $86.78 and a fifty-two week high of $129.17.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AKAM. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Robert W. Baird reduced their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. TD Cowen lifted their price objective on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Scotiabank cut their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.47.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 11.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. This represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,065,975 in the last quarter. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Company 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.