Howard Bailey Securities LLC Raises Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Howard Bailey Securities LLC lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,127 shares of the technology infrastructure company’s stock after buying an additional 444 shares during the quarter. Howard Bailey Securities LLC’s holdings in Akamai Technologies were worth $299,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC raised its stake in Akamai Technologies by 2.0% during the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after purchasing an additional 102 shares during the period. Empirical Finance LLC increased its position in Akamai Technologies by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after purchasing an additional 103 shares in the last quarter. Van ECK Associates Corp lifted its position in Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after buying an additional 105 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of 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 acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Akamai Technologies Trading Down 0.3 %

Shares of NASDAQ:AKAM opened at $101.06 on Thursday. The company has a 50 day moving average of $96.52 and a 200-day moving average of $97.85. 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 firm has a market cap 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. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $126.78.

Insiders Place Their Bets

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 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 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.