Bruce G. Allen Investments LLC Has $53,000 Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bruce G. Allen Investments LLC raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 38.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 554 shares of the technology infrastructure company’s stock after acquiring an additional 155 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Akamai Technologies were worth $53,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in 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 last quarter. Nordea Investment Management AB lifted its holdings in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares during the last quarter. Earnest Partners LLC boosted its position in Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after purchasing an additional 28,135 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 valued at $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after purchasing an additional 88,732 shares during the period. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now directly owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock valued at $1,733,716 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on AKAM shares. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Scotiabank dropped their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.85.

Akamai Technologies Stock Performance

AKAM traded down $4.05 during midday trading on Friday, reaching $89.31. The company had a trading volume of 1,582,178 shares, compared to its average volume of 1,525,088. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50-day moving average price of $95.20 and a two-hundred day moving average price of $97.23. The stock has a market cap of $13.42 billion, a PE ratio of 26.42, a P/E/G ratio of 3.83 and a beta of 0.64.

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.