Pine Valley Investments Ltd Liability Co Has $1.47 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Pine Valley Investments Ltd Liability Co increased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,577 shares of the technology infrastructure company’s stock after purchasing an additional 1,700 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Akamai Technologies were worth $1,472,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sculati Wealth Management LLC grew its holdings in Akamai Technologies by 5.1% in the third quarter. Sculati Wealth Management LLC now owns 13,128 shares of the technology infrastructure company’s stock worth $1,428,000 after purchasing an additional 633 shares during the period. Virtu Financial LLC bought a new position in shares of Akamai Technologies during the 3rd quarter worth about $548,000. Teachers Retirement System of The State of Kentucky increased its position in Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after buying an additional 46,335 shares in the last quarter. Geode Capital Management LLC raised its stake in Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after buying an additional 202,746 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after acquiring an additional 88,732 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 0.0 %

Shares of AKAM opened at $100.00 on Friday. The firm has a market cap of $15.02 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.74 and a beta of 0.65. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50-day moving average of $98.24 and a 200 day moving average of $96.46.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Scotiabank lowered their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $117.61.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction 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 transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $669,425 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

About Akamai Technologies

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.