IVC Wealth Advisors LLC Raises Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

IVC Wealth Advisors LLC raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 61.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,615 shares of the technology infrastructure company’s stock after buying an additional 1,375 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Akamai Technologies were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the last quarter. Eastern Bank acquired a new position in Akamai Technologies during the third quarter worth approximately $71,000. Covestor Ltd lifted its stake in Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Akamai Technologies in the third quarter valued at approximately $102,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred 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. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock worth $2,099,996 over the last three months. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

AKAM has been the subject of several research reports. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Monday, December 2nd. UBS Group began coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Robert W. Baird lowered their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Citigroup dropped their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. 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 given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.10.

Akamai Technologies Trading Up 0.8 %

AKAM stock opened at $95.89 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $14.41 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 3.38 and a beta of 0.64. The business has a fifty day simple moving average of $94.39 and a 200-day simple moving average of $97.37. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17.

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.