Stoneridge Investment Partners LLC Takes Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Stoneridge Investment Partners LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,937 shares of the technology infrastructure company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Banque Cantonale Vaudoise increased its position in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after acquiring an additional 20,633 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after purchasing an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares in the last quarter. Finally, Cascade Investment Advisors Inc. purchased a new stake in shares of Akamai Technologies in the fourth quarter worth about $827,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Price Performance

AKAM opened at $99.64 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $96.30 and its 200 day moving average price is $97.74. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65.

Analyst Ratings Changes

Several equities research analysts recently commented on AKAM shares. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Citigroup dropped 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. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Finally, Robert W. Baird dropped their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Akamai Technologies 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.