Truvestments Capital LLC Grows Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Truvestments Capital LLC grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,759 shares of the technology infrastructure company’s stock after acquiring an additional 401 shares during the period. Truvestments Capital LLC’s holdings in Akamai Technologies were worth $279,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Akamai Technologies by 19.6% during the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after purchasing an additional 6,724 shares during the period. Banque Cantonale Vaudoise grew its holdings in Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after buying an additional 20,633 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the period. Sawgrass Asset Management LLC lifted its holdings in shares of 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 buying an additional 60,241 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its position in shares of Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock valued at $2,009,000 after acquiring an additional 11,890 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Up 1.9 %

AKAM opened at $94.64 on Tuesday. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. 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 business’s 50-day moving average price is $99.00 and its 200-day moving average price is $96.25. The company has a market cap of $14.22 billion, a P/E ratio of 28.00, a P/E/G ratio of 3.53 and a beta of 0.68.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

Insider Buying and Selling

In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $965,245 in the last ninety days. 2.00% of the stock is owned by insiders.

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.