Alberta Investment Management Corp Acquires New Shares in Akamai Technologies, Inc. (NASDAQ:AKAM)

Alberta Investment Management Corp acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 51,356 shares of the technology infrastructure company’s stock, valued at approximately $4,912,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Creative Planning lifted its position in Akamai Technologies by 1.5% during the 3rd quarter. Creative Planning now owns 108,539 shares of the technology infrastructure company’s stock worth $10,957,000 after acquiring an additional 1,569 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Akamai Technologies by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock worth $10,315,000 after acquiring an additional 12,913 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Akamai Technologies by 8.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 30,292 shares of the technology infrastructure company’s stock worth $3,058,000 after acquiring an additional 2,379 shares during the last quarter. Signaturefd LLC lifted its position in Akamai Technologies by 10.1% during the 3rd quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after acquiring an additional 129 shares during the last quarter. Finally, Eastern Bank acquired a new position in Akamai Technologies during the 3rd quarter worth $71,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $100.26 on Thursday. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.57 and a beta of 0.65. The company has a 50 day moving average of $96.64 and a 200-day moving average of $97.96. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $113.36.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AKAM. Citigroup cut their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Robert W. Baird reduced their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, November 11th. UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $117.95.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’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 directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,782 shares of company stock valued at $1,523,951. Corporate insiders own 2.00% of the company’s stock.

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.