Wilmington Savings Fund Society FSB Acquires Shares of 4,782 Akamai Technologies, Inc. (NASDAQ:AKAM)

Wilmington Savings Fund Society FSB bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,782 shares of the technology infrastructure company’s stock, valued at approximately $483,000.

A number of other large investors have also modified their holdings of the business. Farther Finance Advisors LLC boosted its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Innealta Capital LLC purchased a new position in Akamai Technologies in the 2nd quarter worth approximately $28,000. Family Firm Inc. acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $35,000. Eastern Bank purchased a new stake in shares of Akamai Technologies in the third quarter valued at approximately $71,000. Finally, Covestor Ltd grew its position in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 2.0 %

Shares of AKAM stock opened at $97.30 on Tuesday. The stock has a market capitalization of $14.62 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 3.83 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 company has a 50 day moving average price of $98.12 and a 200 day moving average price of $96.62.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $1,733,716 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AKAM. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Robert W. Baird lowered their price target 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. 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 report on Monday, November 11th. UBS Group began coverage on shares of Akamai Technologies in a research note on Monday. They set a “neutral” rating and a $110.00 target price on the stock. Finally, Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and an average price target of $117.21.

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.