Wolverine Asset Management LLC Buys Shares of 600 Akamai Technologies, Inc. (NASDAQ:AKAM)

Wolverine Asset Management LLC bought a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the 4th quarter, Holdings Channel.com reports. The fund bought 600 shares of the technology infrastructure company’s stock, valued at approximately $57,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC boosted its holdings in 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 acquiring an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in 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 in the last quarter. Principal Securities Inc. boosted its holdings in Akamai Technologies by 24.2% in the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after acquiring an additional 174 shares in the last quarter. Covestor Ltd boosted its holdings in 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 in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Akamai Technologies in the third quarter worth about $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup lowered their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday. 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. Raymond James lowered their price target on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday. Finally, Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the business’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 value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,782 shares of company stock worth $1,523,951 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Akamai Technologies Stock Up 1.2 %

Shares of AKAM stock opened at $77.65 on Tuesday. The stock has a 50 day moving average of $95.75 and a 200 day moving average of $97.84. 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 stock has a market cap of $11.67 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.50 and a beta of 0.65. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.47%. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.