Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Howard Bailey Securities LLC

Howard Bailey Securities LLC boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,127 shares of the technology infrastructure company’s stock after acquiring an additional 444 shares during the quarter. Howard Bailey Securities LLC’s holdings in Akamai Technologies were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AKAM. Banque Cantonale Vaudoise lifted its position in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after acquiring an additional 20,633 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after buying an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $90,083,000 after buying an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after acquiring an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. acquired a new position in shares of Akamai Technologies during the 4th quarter valued at about $827,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $101.06 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $126.78. The company has a market cap of $15.18 billion, a P/E ratio of 29.90, a PEG ratio of 3.56 and a beta of 0.65. The company has a 50-day moving average price of $96.52 and a 200 day moving average price of $97.85.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group started coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, Robert W. Baird reduced their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is owned by corporate insiders.

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.