Swedbank AB Has $9.34 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Swedbank AB raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,497 shares of the technology infrastructure company’s stock after purchasing an additional 4,689 shares during the quarter. Swedbank AB owned 0.06% of Akamai Technologies worth $9,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after buying an additional 347,626 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at approximately $15,314,000. Renaissance Technologies LLC grew its holdings in shares of Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares during the last quarter. Distillate Capital Partners LLC acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $14,130,000. Finally, LGT Capital Partners LTD. lifted its stake in Akamai Technologies by 25.6% in the 2nd quarter. LGT Capital Partners LTD. now owns 362,716 shares of the technology infrastructure company’s stock valued at $32,673,000 after purchasing an additional 73,842 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $93.10 on Wednesday. The business has a 50-day simple moving average of $99.00 and a 200 day simple moving average of $96.25. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $129.17. 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 firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.53 and a beta of 0.68.

Analyst Ratings Changes

Several brokerages have recently issued reports on AKAM. TD Cowen upped their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Robert W. Baird cut their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Scotiabank reduced their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This trade represents a 11.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated 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 owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,500 shares of company stock valued at $965,245. Company insiders own 2.00% of the company’s stock.

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.