Modera Wealth Management LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,132 shares of the technology infrastructure company’s stock, valued at approximately $250,000.
Several other institutional investors have also recently added to or reduced their stakes in AKAM. Hartford Investment Management Co. boosted its holdings in shares of Akamai Technologies by 8.0% during the 4th quarter. Hartford Investment Management Co. now owns 16,467 shares of the technology infrastructure company’s stock worth $1,927,000 after buying an additional 1,219 shares during the period. Carret Asset Management LLC boosted its holdings in shares of Akamai Technologies by 5.4% during the 4th quarter. Carret Asset Management LLC now owns 20,870 shares of the technology infrastructure company’s stock worth $2,443,000 after buying an additional 1,065 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Akamai Technologies during the 3rd quarter worth about $11,745,000. Gradient Investments LLC boosted its holdings in shares of Akamai Technologies by 23.1% during the 4th quarter. Gradient Investments LLC now owns 127,101 shares of the technology infrastructure company’s stock worth $14,876,000 after buying an additional 23,857 shares during the period. Finally, Yousif Capital Management LLC bought a new stake in shares of Akamai Technologies during the 4th quarter worth about $2,893,000. Institutional investors own 89.58% of the company’s stock.
Shares of NASDAQ:AKAM opened at $119.96 on Friday. The firm has a 50 day moving average of $113.54 and a 200-day moving average of $112.07. The stock has a market capitalization of $19.30 billion, a PE ratio of 30.52, a PEG ratio of 2.07 and a beta of 0.59. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.44. Akamai Technologies, Inc. has a 12 month low of $96.86 and a 12 month high of $123.25.
In related news, CTO Robert Blumofe sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $109.15, for a total transaction of $873,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $105.12, for a total transaction of $210,240.00. The disclosure for this sale can be found here. Insiders sold a total of 42,325 shares of company stock valued at $4,843,886 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
AKAM has been the subject of several research analyst reports. Citigroup reduced their target price on shares of Akamai Technologies from $135.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, February 16th. William Blair reaffirmed an “outperform” rating on shares of Akamai Technologies in a report on Tuesday, February 15th. Tigress Financial boosted their price objective on shares of Akamai Technologies from $157.00 to $168.00 in a report on Wednesday, January 26th. DA Davidson cut their price objective on shares of Akamai Technologies from $143.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, March 23rd. Finally, Piper Sandler boosted their price objective on shares of Akamai Technologies from $121.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $132.45.
Akamai Technologies Company Profile (Get Rating)
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.
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