Bruce G. Allen Investments LLC Has $53,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Bruce G. Allen Investments LLC lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 38.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 554 shares of the technology infrastructure company’s stock after acquiring an additional 155 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Akamai Technologies were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AKAM. Farther Finance Advisors LLC increased its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies in the 3rd quarter valued at approximately $71,000. Covestor Ltd lifted its holdings in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Akamai Technologies during the third quarter valued at approximately $102,000. Finally, Asset Dedication LLC bought a new position in shares of Akamai Technologies in the third quarter valued at approximately $135,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM traded down $4.05 during trading on Friday, reaching $89.31. The company had a trading volume of 1,582,178 shares, compared to its average volume of 1,525,088. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. 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 business’s 50 day moving average price is $95.20 and its 200-day moving average price is $97.23. The stock has a market cap of $13.42 billion, a PE ratio of 26.42, a PEG ratio of 3.83 and a beta of 0.64.

Analyst Ratings Changes

AKAM has been the topic of a number of research analyst reports. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Monday, December 2nd. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.85.

Insider Buying and Selling

In other news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $1,733,716 over the last three months. 1.80% of the stock is currently owned by company insiders.

About Akamai Technologies

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.