First Horizon Advisors Inc. Raises Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

First Horizon Advisors Inc. grew its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,253 shares of the technology infrastructure company’s stock after acquiring an additional 18,422 shares during the period. First Horizon Advisors Inc. owned about 0.10% of Akamai Technologies worth $15,067,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its position in Akamai Technologies by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 14,018 shares of the technology infrastructure company’s stock valued at $1,415,000 after buying an additional 354 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Akamai Technologies in the third quarter worth approximately $1,303,000. Banque Cantonale Vaudoise grew its holdings in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after acquiring an additional 20,633 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Akamai Technologies during the 3rd quarter valued at about $209,000. Finally, Caprock Group LLC purchased a new stake in Akamai Technologies during the third quarter valued at approximately $252,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Trading Up 1.6 %

Shares of AKAM stock opened at $87.36 on Wednesday. The company has a market cap of $13.12 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50 day simple moving average is $99.51 and its two-hundred day simple moving average is $96.54. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 11.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,500 shares of company stock worth $1,065,975 over the last three months. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AKAM. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. Scotiabank dropped their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research report on Thursday, August 15th. Finally, TD Cowen boosted their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

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.