Pitcairn Co. Buys 928 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Pitcairn Co. lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 18.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,982 shares of the technology infrastructure company’s stock after acquiring an additional 928 shares during the period. Pitcairn Co.’s holdings in Akamai Technologies were worth $604,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Earnest Partners LLC grew its holdings in Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after purchasing an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after buying an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Akamai Technologies by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after buying an additional 14,347 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after acquiring an additional 11,272 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after acquiring an additional 162,700 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $965,245 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Monday, July 29th. TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Akamai Technologies Stock Up 1.9 %

Shares of NASDAQ AKAM opened at $94.64 on Tuesday. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week 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 business has a fifty day moving average of $99.00 and a two-hundred day moving average of $96.25. The stock has a market cap of $14.22 billion, a PE ratio of 28.00, a PEG ratio of 3.53 and a beta of 0.68.

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.