Wilmington Savings Fund Society FSB Increases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Wilmington Savings Fund Society FSB raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,948 shares of the technology infrastructure company’s stock after acquiring an additional 166 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Akamai Technologies were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Eastern Bank purchased a new stake in shares of Akamai Technologies in the third quarter valued at approximately $71,000. Covestor Ltd grew its holdings in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Akamai Technologies in the third quarter worth $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AKAM. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Evercore ISI restated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Citigroup dropped their target price 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. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Finally, Robert W. Baird dropped their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One equities research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.10.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,282 shares of company stock valued at $2,099,996 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Stock Down 0.7 %

Shares of NASDAQ AKAM opened at $101.38 on Wednesday. The firm has a market cap of $15.23 billion, a P/E ratio of 29.99, 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 1 year low of $84.70 and a 1 year high of $128.62. The firm’s 50 day moving average price is $96.46 and its 200 day moving average price is $97.83.

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.