4,968 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) during the third quarter, HoldingsChannel reports. The fund acquired 4,968 shares of the technology infrastructure company’s stock, valued at approximately $502,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Earnest Partners LLC boosted its holdings 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 buying an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Akamai Technologies by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The trade was a 5.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,500 shares of company stock valued at $1,065,975. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Monday, July 29th. Finally, DA Davidson reissued a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Check Out Our Latest Report on Akamai Technologies

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $92.90 on Monday. Akamai Technologies, Inc. has a one year low of $84.70 and a one year 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 company has a 50 day moving average price of $99.09 and a 200 day moving average price of $96.31. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 3.47 and a beta of 0.68.

Akamai Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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