Rhumbline Advisers Grows Stake in Akamai Technologies, Inc. $AKAM

Rhumbline Advisers boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,861 shares of the technology infrastructure company’s stock after buying an additional 7,729 shares during the quarter. Rhumbline Advisers’ holdings in Akamai Technologies were worth $24,990,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in shares of Akamai Technologies by 24.3% during the third quarter. Hantz Financial Services Inc. now owns 830 shares of the technology infrastructure company’s stock valued at $63,000 after acquiring an additional 162 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Akamai Technologies by 4.0% during the second quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock worth $372,000 after purchasing an additional 177 shares in the last quarter. Main Management ETF Advisors LLC increased its position in shares of Akamai Technologies by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the technology infrastructure company’s stock worth $935,000 after purchasing an additional 192 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in Akamai Technologies by 130.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock valued at $26,000 after purchasing an additional 195 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its holdings in Akamai Technologies by 3.2% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,354 shares of the technology infrastructure company’s stock valued at $507,000 after purchasing an additional 196 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

AKAM stock opened at $111.76 on Tuesday. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $113.50. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 3.44 and a beta of 0.70. The business has a fifty day moving average of $92.10 and a two-hundred day moving average of $83.31.

Insider Activity

In other news, EVP Mani Sundaram sold 10,438 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $89.25, for a total value of $931,591.50. Following the sale, the executive vice president directly owned 13,550 shares of the company’s stock, valued at approximately $1,209,337.50. The trade was a 43.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 3,320 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $87.30, for a total transaction of $289,836.00. Following the completion of the transaction, the chief operating officer owned 7,785 shares in the company, valued at approximately $679,630.50. This represents a 29.90% 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 sold 32,318 shares of company stock worth $2,967,254. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Akamai Technologies from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Jefferies Financial Group cut shares of Akamai Technologies to an “underperform” rating in a research note on Monday, December 15th. Citigroup raised their target price on shares of Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. DA Davidson boosted their target price on Akamai Technologies from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, TD Cowen increased their price target on Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a report on Thursday, November 13th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.50.

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.