National Bank of Canada FI lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 83.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,443 shares of the technology infrastructure company's stock after purchasing an additional 35,142 shares during the period. National Bank of Canada FI owned about 0.05% of Akamai Technologies worth $7,818,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise raised its position in Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company's stock worth $4,481,000 after acquiring an additional 20,633 shares during the period. Principal Financial Group Inc. increased its stake in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company's stock worth $20,236,000 after purchasing an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after purchasing an additional 11,272 shares during the period. Sompo Asset Management Co. Ltd. lifted its stake in Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company's stock valued at $2,009,000 after purchasing an additional 11,890 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Akamai Technologies during the third quarter valued at $13,313,000. 94.28% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on AKAM shares. Scotiabank dropped their price target on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reiterated a "sector perform" rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. HSBC raised shares of 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. Tigress Financial reaffirmed a "strong-buy" rating and issued a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. Finally, Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has an average rating of "Moderate Buy" and an average price target of $117.61.
Check Out Our Latest Research Report on Akamai Technologies
AKAM stock opened at $100.02 on Thursday. The firm has a 50 day simple moving average of $98.25 and a two-hundred day simple moving average of $96.44. The stock has a market cap of $15.03 billion, a PE ratio of 29.59, a P/E/G ratio of 3.74 and a beta of 0.65. 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 current ratio of 1.33 and a quick ratio of 1.33.
In related news, Director William Raymond Wagner sold 1,000 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now directly owns 15,719 shares of the company's stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The stock was 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 in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock valued at $1,058,625. Corporate insiders own 1.80% of the company's stock.
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.
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