Alberta Investment Management Corp Purchases New Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Alberta Investment Management Corp purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 51,356 shares of the technology infrastructure company’s stock, valued at approximately $4,912,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Akamai Technologies by 41.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,338 shares of the technology infrastructure company’s stock valued at $606,000 after purchasing an additional 1,852 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Akamai Technologies by 423.5% in the fourth quarter. Venturi Wealth Management LLC now owns 2,691 shares of the technology infrastructure company’s stock valued at $257,000 after acquiring an additional 2,177 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Akamai Technologies by 10.9% in the fourth quarter. D.A. Davidson & CO. now owns 9,822 shares of the technology infrastructure company’s stock valued at $939,000 after acquiring an additional 962 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Akamai Technologies by 3.7% in the fourth quarter. CIBC Asset Management Inc now owns 23,673 shares of the technology infrastructure company’s stock valued at $2,264,000 after acquiring an additional 841 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Akamai Technologies by 3.6% in the fourth quarter. Sanctuary Advisors LLC now owns 11,063 shares of the technology infrastructure company’s stock valued at $1,123,000 after acquiring an additional 384 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.9 %

AKAM opened at $100.26 on Thursday. The stock has a market capitalization of $15.06 billion, a P/E ratio of 29.66, a P/E/G ratio of 3.57 and a beta of 0.65. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $113.36. The firm’s fifty day simple moving average is $96.64 and its 200 day simple moving average is $97.96. 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 Akamai Technologies stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of 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. In the last ninety days, insiders have sold 15,782 shares of company stock valued at $1,523,951. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Citigroup reduced their price objective 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, January 17th. Finally, HSBC raised 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. Six analysts have rated the stock with 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.95.

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.