Cascade Investment Advisors Inc. Takes $827,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Cascade Investment Advisors Inc. bought a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,645 shares of the technology infrastructure company’s stock, valued at approximately $827,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AKAM. V Square Quantitative Management LLC raised its position in Akamai Technologies by 2.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock valued at $516,000 after purchasing an additional 102 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after acquiring an additional 103 shares in the last quarter. Van ECK Associates Corp lifted its stake in Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares during the period. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the 3rd 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 in the last quarter. Finally, D.A. Davidson & CO. increased its position in Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after purchasing an additional 115 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Up 2.0 %

AKAM stock opened at $99.67 on Tuesday. 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 quick ratio of 1.33 and a current ratio of 1.33. The firm’s fifty day moving average is $94.87 and its 200 day moving average is $97.51. The firm has a market cap of $14.97 billion, a PE ratio of 29.49, a P/E/G ratio of 3.40 and a beta of 0.64.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,282 shares of company stock valued at $2,099,996. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

AKAM has been the topic of a number of recent research reports. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird dropped their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. UBS Group initiated coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. Finally, Citigroup lowered their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $116.10.

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.