Sovran Advisors LLC Acquires New Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sovran Advisors LLC acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,329 shares of the technology infrastructure company’s stock, valued at approximately $302,000.

A number of other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the last quarter. Eastern Bank bought a new position in Akamai Technologies during the 3rd quarter worth approximately $71,000. Covestor Ltd grew its position in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Akamai Technologies during the 3rd quarter worth approximately $102,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is owned by insiders.

Akamai Technologies Trading Down 0.3 %

AKAM opened at $101.06 on Thursday. The business has a 50 day moving average of $96.52 and a 200-day moving average of $97.85. The stock has a market cap of $15.18 billion, a PE ratio of 29.90, a PEG ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $126.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Analyst Ratings Changes

Several equities analysts recently issued reports on AKAM shares. Evercore ISI restated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, November 11th. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Finally, Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.10.

About Akamai Technologies

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.