Summit Trail Advisors LLC Buys 1,488 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Summit Trail Advisors LLC increased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 58.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,022 shares of the technology infrastructure company’s stock after acquiring an additional 1,488 shares during the period. Summit Trail Advisors LLC’s holdings in Akamai Technologies were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AKAM. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the first quarter worth $31,000. Janus Henderson Group PLC raised its holdings in shares of Akamai Technologies by 19.6% during the first 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. California State Teachers Retirement System raised its holdings in shares of Akamai Technologies by 1.9% during the first 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 during the period. Tidal Investments LLC raised its holdings in shares of Akamai Technologies by 180.8% during the first quarter. Tidal Investments LLC now owns 37,566 shares of the technology infrastructure company’s stock worth $4,086,000 after acquiring an additional 24,189 shares during the period. Finally, Garner Asset Management Corp raised its holdings in shares of Akamai Technologies by 13.5% during the first quarter. Garner Asset Management Corp now owns 2,062 shares of the technology infrastructure company’s stock worth $224,000 after acquiring an additional 245 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction 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 trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,500 shares of company stock worth $965,245. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $93.10 on Wednesday. The firm has a 50-day moving average of $99.00 and a 200-day moving average of $96.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $13.99 billion, a PE ratio of 27.54, a P/E/G ratio of 3.53 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $129.17.

Analyst Ratings Changes

A number of research analysts recently weighed in on AKAM shares. DA Davidson reaffirmed a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Akamai Technologies Company 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.