Sovran Advisors LLC Invests $302,000 in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sovran Advisors LLC purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,329 shares of the technology infrastructure company’s stock, valued at approximately $302,000.

Several other hedge funds have also recently modified their holdings of AKAM. Farther Finance Advisors LLC raised its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the period. Eastern Bank bought a new stake in shares of Akamai Technologies in the third quarter worth $71,000. Covestor Ltd grew its holdings 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 worth $90,000 after acquiring an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Akamai Technologies in the third quarter worth $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Scotiabank cut their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Robert W. Baird cut their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Finally, Evercore ISI reissued an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.10.

Insider Buying and Selling at Akamai Technologies

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 transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,282 shares of company stock worth $2,099,996 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $101.06 on Thursday. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $126.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average is $96.52 and its 200 day moving average is $97.85. The company has a market capitalization of $15.18 billion, a P/E ratio of 29.90, a P/E/G ratio of 3.56 and a beta of 0.65.

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.