RIA Advisory Group LLC Makes New Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

RIA Advisory Group LLC bought a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,652 shares of the technology infrastructure company’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in Akamai Technologies by 14.3% during the first quarter. Empowered Funds LLC now owns 3,115 shares of the technology infrastructure company’s stock worth $339,000 after purchasing an additional 390 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Akamai Technologies by 9.6% during the first quarter. Avantax Advisory Services Inc. now owns 2,516 shares of the technology infrastructure company’s stock worth $274,000 after acquiring an additional 221 shares during the period. ProShare Advisors LLC boosted its stake in Akamai Technologies by 11.9% in the first quarter. ProShare Advisors LLC now owns 31,917 shares of the technology infrastructure company’s stock valued at $3,471,000 after acquiring an additional 3,384 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Akamai Technologies by 17.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock valued at $20,132,000 after purchasing an additional 27,484 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Akamai Technologies by 1.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,745 shares of the technology infrastructure company’s stock worth $27,324,000 after purchasing an additional 2,422 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 1.0 %

NASDAQ AKAM traded down $0.92 during trading hours on Friday, hitting $87.43. The company’s stock had a trading volume of 2,616,717 shares, compared to its average volume of 1,664,409. The stock has a fifty day moving average of $99.84 and a 200 day moving average of $96.78. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $13.13 billion, a P/E ratio of 25.87, a PEG ratio of 3.36 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $86.78 and a twelve month high of $129.17.

Insider Buying and Selling at Akamai Technologies

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 value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The trade was a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated 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 sale, 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. Over the last quarter, insiders have sold 11,500 shares of company stock valued at $1,065,975. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AKAM. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Monday, July 29th. Finally, Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.47.

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.