Bryn Mawr Capital Management LLC Boosts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bryn Mawr Capital Management LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 395.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,288 shares of the technology infrastructure company’s stock after acquiring an additional 32,154 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Akamai Technologies were worth $3,854,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AKAM. Alberta Investment Management Corp purchased a new stake in Akamai Technologies during the 4th quarter worth approximately $4,912,000. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Akamai Technologies by 41.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,338 shares of the technology infrastructure company’s stock worth $606,000 after buying an additional 1,852 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Akamai Technologies by 423.5% in the fourth quarter. Venturi Wealth Management LLC now owns 2,691 shares of the technology infrastructure company’s stock worth $257,000 after buying an additional 2,177 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Akamai Technologies by 10.9% in the fourth quarter. D.A. Davidson & CO. now owns 9,822 shares of the technology infrastructure company’s stock valued at $939,000 after acquiring an additional 962 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Akamai Technologies by 3.7% during the 4th quarter. CIBC Asset Management Inc now owns 23,673 shares of the technology infrastructure company’s stock valued at $2,264,000 after acquiring an additional 841 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

AKAM stock opened at $100.26 on Thursday. The company has a market capitalization of $15.06 billion, a P/E ratio of 29.66, a PEG ratio of 3.57 and a beta of 0.65. 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 company has a 50-day simple moving average of $96.64 and a 200 day simple moving average of $97.96. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $113.36.

Insider Transactions at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,782 shares of company stock valued at $1,523,951. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AKAM. Evercore ISI reissued an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Citigroup reduced their target price on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Scotiabank lowered their price target 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. Robert W. Baird reduced their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $117.95.

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.