Dynamic Technology Lab Private Ltd Has $1.03 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Dynamic Technology Lab Private Ltd lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 96.5% in the third quarter, Holdings Channel.com reports. The fund owned 10,151 shares of the technology infrastructure company’s stock after acquiring an additional 4,985 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Akamai Technologies were worth $1,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Akamai Technologies by 25.1% during the 2nd 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 last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Akamai Technologies during the second quarter worth $15,314,000. Renaissance Technologies LLC raised its stake in Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after buying an additional 162,700 shares during the last quarter. Distillate Capital Partners LLC acquired a new position in Akamai Technologies in the second quarter valued at $14,130,000. Finally, Swedbank AB bought a new stake in Akamai Technologies during the first quarter valued at $9,488,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Up 0.8 %

AKAM stock opened at $93.86 on Thursday. The stock’s 50 day moving average is $98.91 and its 200-day moving average is $96.27. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The firm has a market capitalization of $14.10 billion, a PE ratio of 27.77, a P/E/G ratio of 3.60 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AKAM shares. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a research note on Friday, August 9th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. DA Davidson reissued a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, 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 report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock valued at $1,058,625 in the last three months. 2.00% of the stock is currently owned by insiders.

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.