Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,438 shares of the technology infrastructure company’s stock after acquiring an additional 1,629 shares during the period. Park Avenue Securities LLC’s holdings in Akamai Technologies were worth $711,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AKAM. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares in the last quarter. Eastern Bank acquired a new stake in shares of Akamai Technologies during the third quarter worth about $71,000. Covestor Ltd boosted its stake in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $102,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AKAM shares. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, November 11th. Robert W. Baird reduced their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. 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. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $116.10.

Insider Buying and Selling

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,282 shares of company stock valued at $2,099,996. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Up 0.4 %

Shares of NASDAQ AKAM opened at $95.11 on Thursday. The stock has a market capitalization of $14.29 billion, a PE ratio of 28.14, a P/E/G ratio of 3.25 and a beta of 0.64. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $94.24 and a 200-day moving average of $97.38. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $129.17.

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.