GAMMA Investing LLC Raises Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

GAMMA Investing LLC raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 47.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,197 shares of the technology infrastructure company’s stock after purchasing an additional 1,345 shares during the quarter. GAMMA Investing LLC’s holdings in Akamai Technologies were worth $401,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the period. Earnest Partners LLC increased its holdings in Akamai Technologies by 1.3% in the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after buying an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after acquiring an additional 347,626 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of Akamai Technologies by 6.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after acquiring an additional 88,732 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now owns 19,510 shares of the company’s stock, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,282 shares of company stock worth $1,733,716. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Down 1.9 %

Shares of NASDAQ AKAM opened at $93.56 on Monday. The company has a market capitalization of $14.06 billion, a P/E ratio of 27.68, a P/E/G ratio of 3.83 and a beta of 0.65. 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 company has a 50 day simple moving average of $95.92 and a 200-day simple moving average of $97.23. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AKAM shares. Robert W. Baird reduced their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. UBS Group began coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, Scotiabank decreased their price target on shares of 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 analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $116.85.

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.