AlphaStar Capital Management LLC Has $1.35 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

AlphaStar Capital Management LLC grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,131 shares of the technology infrastructure company’s stock after acquiring an additional 1,823 shares during the period. AlphaStar Capital Management LLC’s holdings in Akamai Technologies were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise boosted its position in Akamai Technologies by 86.9% during the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after purchasing an additional 20,633 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Akamai Technologies by 1.3% in the third 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 increased its holdings in Akamai Technologies by 32.6% during the third 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 buying an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. bought a new stake in Akamai Technologies during the fourth quarter worth $827,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of several recent analyst reports. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Scotiabank cut their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, Citigroup dropped their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.10.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $99.64 on Friday. The stock has a fifty day moving average of $96.30 and a 200-day moving average of $97.74. The stock has a market capitalization of $14.97 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now directly owns 26,703 shares in the company, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’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 sale, the chief technology officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,282 shares of company stock valued at $2,099,996. 1.80% of the stock is currently 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.