New York Life Investment Management LLC Has $2.58 Million Position in Akamai Technologies, Inc. $AKAM

New York Life Investment Management LLC raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 71.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,051 shares of the technology infrastructure company’s stock after acquiring an additional 14,192 shares during the quarter. New York Life Investment Management LLC’s holdings in Akamai Technologies were worth $2,580,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in Akamai Technologies by 101.4% in the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock valued at $384,000 after buying an additional 2,022 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Akamai Technologies by 35.2% in the first quarter. Jones Financial Companies Lllp now owns 1,087 shares of the technology infrastructure company’s stock valued at $88,000 after acquiring an additional 283 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Akamai Technologies in the 1st quarter worth approximately $266,000. Empowered Funds LLC grew its position in Akamai Technologies by 73.0% during the 1st quarter. Empowered Funds LLC now owns 7,134 shares of the technology infrastructure company’s stock worth $574,000 after acquiring an additional 3,010 shares during the last quarter. Finally, Aberdeen Group plc increased its holdings in Akamai Technologies by 4.3% during the 2nd quarter. Aberdeen Group plc now owns 151,400 shares of the technology infrastructure company’s stock valued at $12,076,000 after purchasing an additional 6,223 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In other Akamai Technologies news, COO Adam Karon sold 3,320 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $87.30, for a total transaction of $289,836.00. Following the completion of the sale, the chief operating officer owned 7,785 shares in the company, valued at approximately $679,630.50. The trade was a 29.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mani Sundaram sold 10,438 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $89.25, for a total value of $931,591.50. Following the completion of the transaction, the executive vice president owned 13,550 shares in the company, valued at $1,209,337.50. This represents a 43.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,818 shares of company stock worth $2,589,254. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank of America reduced their price objective on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, October 20th. The Goldman Sachs Group upped their price target on shares of Akamai Technologies from $67.00 to $69.00 and gave the stock a “sell” rating in a research report on Friday, November 7th. Royal Bank Of Canada increased their price objective on shares of Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a report on Monday, January 5th. Jefferies Financial Group downgraded shares of Akamai Technologies to an “underperform” rating in a research note on Monday, December 15th. Finally, Citigroup upped their target price on shares of Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and a consensus target price of $96.94.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $104.61 on Friday. The company has a market cap of $15.05 billion, a PE ratio of 30.68, a PEG ratio of 2.92 and a beta of 0.70. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.87. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The company’s 50-day moving average is $91.01 and its two-hundred day moving average is $82.78.

Akamai Technologies Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.