Caprock Group LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Caprock Group LLC acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,492 shares of the technology infrastructure company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Earnest Partners LLC grew its stake in shares of Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after acquiring an additional 28,135 shares during the period. Dimensional Fund Advisors LP boosted its position in Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares during the period. Disciplined Growth Investors Inc. MN raised its position in shares of Akamai Technologies by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after buying an additional 162,700 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Akamai Technologies by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 558,291 shares of the technology infrastructure company’s stock valued at $50,291,000 after buying an additional 14,353 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Up 2.0 %

Shares of AKAM opened at $92.90 on Monday. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 3.47 and a beta of 0.68. The firm has a 50 day moving average price of $99.09 and a 200-day moving average price of $96.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Analyst Ratings Changes

A number of research firms have recently commented on AKAM. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. DA Davidson reissued a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

Insiders Place Their Bets

In related news, 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 transaction 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 represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. This trade represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,065,975 over the last three months. Insiders own 1.80% of the company’s stock.

Akamai Technologies Company 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.