Truvestments Capital LLC Acquires 401 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Truvestments Capital LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.0% in the third quarter, Holdings Channel.com reports. The fund owned 2,759 shares of the technology infrastructure company’s stock after purchasing an additional 401 shares during the period. Truvestments Capital LLC’s holdings in Akamai Technologies were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies in the 1st quarter worth about $31,000. Advisors Asset Management Inc. lifted its holdings in Akamai Technologies by 26.3% in the first quarter. Advisors Asset Management Inc. now owns 11,743 shares of the technology infrastructure company’s stock worth $1,277,000 after buying an additional 2,446 shares during the period. Caxton Associates LP bought a new stake in Akamai Technologies during the 1st quarter valued at approximately $753,000. Janus Henderson Group PLC grew its holdings in shares of Akamai Technologies by 19.6% during the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after acquiring an additional 6,724 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Akamai Technologies by 1.9% in the 1st quarter. California State Teachers Retirement System now owns 254,130 shares of the technology infrastructure company’s stock worth $27,639,000 after acquiring an additional 4,753 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several research reports. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Friday, August 9th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, July 29th. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, TD Cowen upped their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Akamai Technologies Trading Up 1.9 %

Shares of AKAM stock opened at $94.64 on Tuesday. The stock has a market capitalization of $14.22 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.53 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $99.00 and its 200 day moving average is $96.25. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the transaction, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $965,245 in the last ninety days. Insiders own 2.00% of the company’s stock.

Akamai Technologies Profile

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.