Exchange Traded Concepts LLC Grows Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Exchange Traded Concepts LLC grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,617 shares of the technology infrastructure company’s stock after buying an additional 1,968 shares during the period. Exchange Traded Concepts LLC’s holdings in Akamai Technologies were worth $4,650,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Akamai Technologies by 20.0% during the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after purchasing an additional 139,760 shares in the last quarter. Nordea Investment Management AB boosted its stake in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after purchasing an additional 138,380 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in Akamai Technologies during the 3rd quarter valued at about $13,313,000. Finally, Invenomic Capital Management LP increased its position in shares of Akamai Technologies by 252.2% during the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock valued at $17,766,000 after buying an additional 126,021 shares during the period. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AKAM shares. UBS Group started coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Robert W. Baird reduced their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Oppenheimer raised 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Insider Buying and Selling at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This trade represents a 5.98 % 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 worth $2,099,996. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Trading Up 1.9 %

NASDAQ AKAM opened at $97.70 on Friday. The stock has a 50-day moving average of $94.59 and a 200-day moving average of $97.41. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The firm has a market cap of $14.68 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 3.40 and a beta of 0.64.

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.