Profund Advisors LLC Acquires 222 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Profund Advisors LLC raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,998 shares of the technology infrastructure company’s stock after purchasing an additional 222 shares during the quarter. Profund Advisors LLC’s holdings in Akamai Technologies were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ethic Inc. grew its stake in shares of Akamai Technologies by 30.4% during the 1st quarter. Ethic Inc. now owns 10,335 shares of the technology infrastructure company’s stock worth $809,000 after acquiring an additional 2,410 shares during the period. Quantinno Capital Management LP bought a new position in shares of Akamai Technologies during the 1st quarter worth $331,000. Portside Wealth Group LLC bought a new position in shares of Akamai Technologies during the 2nd quarter worth $6,714,000. Acorn Financial Advisory Services Inc. ADV grew its stake in shares of Akamai Technologies by 8.7% during the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 4,129 shares of the technology infrastructure company’s stock worth $371,000 after acquiring an additional 329 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Akamai Technologies by 22.8% during the 1st quarter. ProShare Advisors LLC now owns 31,191 shares of the technology infrastructure company’s stock worth $2,442,000 after acquiring an additional 5,784 shares during the period. Institutional investors own 91.40% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $112.47 on Tuesday. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 2.59 and a beta of 0.77. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.82. Akamai Technologies, Inc. has a 1-year low of $70.65 and a 1-year high of $112.96. The stock’s 50-day moving average is $106.94 and its 200 day moving average is $98.42.

Insider Activity at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 8,640 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $105.45, for a total transaction of $911,088.00. Following the transaction, the chief financial officer now directly owns 18,168 shares of the company’s stock, valued at approximately $1,915,815.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Edward J. Mcgowan sold 8,640 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $105.45, for a total transaction of $911,088.00. Following the transaction, the chief financial officer now directly owns 18,168 shares in the company, valued at approximately $1,915,815.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Aaron Ahola sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $112.02, for a total value of $492,888.00. Following the transaction, the executive vice president now owns 10,684 shares in the company, valued at $1,196,821.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,762 shares of company stock valued at $3,426,153. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AKAM shares. DA Davidson increased their price target on Akamai Technologies from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Bank of America assumed coverage on Akamai Technologies in a report on Thursday, September 7th. They set a “buy” rating and a $145.00 price objective on the stock. Raymond James increased their price objective on Akamai Technologies from $115.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Tigress Financial reissued a “strong-buy” rating and set a $132.00 price objective on shares of Akamai Technologies in a report on Wednesday, September 20th. Finally, Royal Bank of Canada increased their price objective on Akamai Technologies from $97.00 to $115.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.72.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.