Banque Cantonale Vaudoise Increases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Banque Cantonale Vaudoise lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 86.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,390 shares of the technology infrastructure company’s stock after acquiring an additional 20,633 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Akamai Technologies were worth $4,481,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Financial Services Inc acquired a new position in Akamai Technologies in the third quarter worth about $209,000. Caprock Group LLC acquired a new position in Akamai Technologies in the third quarter worth about $252,000. Swiss National Bank grew its stake in Akamai Technologies by 0.8% in the third quarter. Swiss National Bank now owns 452,100 shares of the technology infrastructure company’s stock worth $45,639,000 after purchasing an additional 3,500 shares in the last quarter. Sawgrass Asset Management LLC grew its stake in Akamai Technologies by 72.6% in the third quarter. Sawgrass Asset Management LLC now owns 143,269 shares of the technology infrastructure company’s stock worth $14,463,000 after purchasing an additional 60,241 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new position in Akamai Technologies in the third quarter worth about $268,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of research reports. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, July 29th. TD Cowen lifted their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at $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 11,500 shares of company stock valued at $1,065,975 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $87.36 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.33 and a beta of 0.68. The stock’s 50 day moving average price is $99.51 and its 200 day moving average price is $96.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

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.