RIA Advisory Group LLC Makes New $268,000 Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

RIA Advisory Group LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the third quarter, HoldingsChannel reports. The institutional investor bought 2,652 shares of the technology infrastructure company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AKAM. V Square Quantitative Management LLC increased its position in shares of Akamai Technologies by 2.0% in the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after purchasing an additional 102 shares during the period. Empirical Finance LLC grew its position in Akamai Technologies by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after acquiring an additional 103 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after acquiring an additional 105 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Akamai Technologies by 85.7% during the 3rd 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 period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Akamai Technologies by 2.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock valued at $473,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,500 shares of company stock valued at $1,065,975. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 1.0 %

Shares of Akamai Technologies stock traded down $0.92 on Friday, hitting $87.43. The stock had a trading volume of 2,616,717 shares, compared to its average volume of 1,664,409. The stock’s 50-day simple moving average is $99.84 and its two-hundred day simple moving average is $96.78. Akamai Technologies, Inc. has a one year low of $86.78 and a one year high of $129.17. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 3.36 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Analysts Set New Price Targets

Several equities research analysts recently commented on AKAM shares. Tigress Financial restated a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. TD Cowen upped their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating 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 report on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.47.

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.