American International Group Inc. raised its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,260 shares of the technology infrastructure company’s stock after acquiring an additional 1,729 shares during the quarter. American International Group Inc.’s holdings in Akamai Technologies were worth $4,047,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. MML Investors Services LLC lifted its position in Akamai Technologies by 50.9% during the 3rd quarter. MML Investors Services LLC now owns 12,139 shares of the technology infrastructure company’s stock worth $888,000 after acquiring an additional 4,092 shares during the period. AXA acquired a new position in Akamai Technologies in the third quarter valued at approximately $10,401,000. Janus Henderson Group PLC boosted its stake in Akamai Technologies by 41.1% in the third quarter. Janus Henderson Group PLC now owns 1,640,017 shares of the technology infrastructure company’s stock valued at $119,967,000 after acquiring an additional 477,914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Akamai Technologies by 4.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 236,365 shares of the technology infrastructure company’s stock worth $17,290,000 after buying an additional 11,039 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Akamai Technologies by 4.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 20,181 shares of the technology infrastructure company’s stock worth $1,571,000 after buying an additional 776 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.
Shares of AKAM traded down $0.40 during trading hours on Monday, hitting $76.65. The company had a trading volume of 1,320,639 shares, compared to its average volume of 1,305,715. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $83.08. The firm has a market cap of $12.49 billion, a PE ratio of 27.77, a P/E/G ratio of 1.65 and a beta of 0.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.09 and a quick ratio of 2.09.
In related news, CFO Edward J. Mcgowan sold 5,520 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $72.40, for a total value of $399,648.00. Following the sale, the chief financial officer now owns 15,134 shares in the company, valued at approximately $1,095,701.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Aaron Ahola sold 2,157 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $70.16, for a total value of $151,335.12. Following the completion of the sale, the senior vice president now owns 4,035 shares in the company, valued at approximately $283,095.60. The disclosure for this sale can be found here. In the last three months, insiders sold 98,398 shares of company stock valued at $7,020,849. Corporate insiders own 3.20% of the company’s stock.
Several research analysts have issued reports on the company. Morgan Stanley raised Akamai Technologies from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $82.00 to $79.00 in a report on Tuesday, January 15th. Evercore ISI started coverage on shares of Akamai Technologies in a report on Thursday, March 21st. They set an “in-line” rating and a $70.00 price target for the company. Deutsche Bank lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 price target for the company. in a research report on Monday, March 25th. Craig Hallum reduced their price objective on shares of Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, January 9th. Finally, Zacks Investment Research downgraded shares of Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $80.71.
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About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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