Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,951 shares of the technology infrastructure company’s stock after buying an additional 250 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Akamai Technologies were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Park Avenue Securities LLC lifted its stake in shares of Akamai Technologies by 28.0% during the fourth quarter. Park Avenue Securities LLC now owns 7,438 shares of the technology infrastructure company’s stock valued at $711,000 after buying an additional 1,629 shares during the period. Czech National Bank lifted its stake in shares of Akamai Technologies by 5.5% during the fourth quarter. Czech National Bank now owns 32,573 shares of the technology infrastructure company’s stock valued at $3,116,000 after buying an additional 1,706 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the period. Nordea Investment Management AB lifted its stake in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after buying an additional 138,380 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Akamai Technologies by 47.2% during the fourth quarter. GAMMA Investing LLC now owns 4,197 shares of the technology infrastructure company’s stock valued at $401,000 after buying an additional 1,345 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

AKAM opened at $91.01 on Friday. The company has a fifty day simple moving average of $94.02 and a 200 day simple moving average of $97.27. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.17 and a beta of 0.64. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Activity 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, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This trade represents a 13.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’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 completion of the transaction, the director now 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 disclosure for this sale can be found here. In the last three months, insiders sold 22,282 shares of company stock valued at $2,099,996. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AKAM. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Citigroup cut their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $116.10.

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.