AlphaStar Capital Management LLC Purchases 1,823 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

AlphaStar Capital Management LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 14.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,131 shares of the technology infrastructure company’s stock after buying an additional 1,823 shares during the period. AlphaStar Capital Management LLC’s holdings in Akamai Technologies were worth $1,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AKAM. Sanctuary Advisors LLC acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at about $984,000. Czech National Bank increased its holdings in Akamai Technologies by 6.3% in the third quarter. Czech National Bank now owns 30,867 shares of the technology infrastructure company’s stock worth $3,116,000 after purchasing an additional 1,842 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Akamai Technologies by 32.1% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 30,834 shares of the technology infrastructure company’s stock valued at $3,111,000 after buying an additional 7,484 shares during the period. Chickasaw Capital Management LLC bought a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $202,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $363,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.0 %

Shares of Akamai Technologies stock opened at $99.64 on Friday. The stock has a fifty day moving average price of $96.30 and a 200-day moving average price of $97.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $14.97 billion, a PE ratio of 29.48, a P/E/G ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $129.17.

Insiders Place Their Bets

In other news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the business’s 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 owns 19,510 shares in the company, valued at $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,282 shares of company stock valued at $2,099,996. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AKAM. Scotiabank cut their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. HSBC raised 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. Robert W. Baird decreased their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. Finally, UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.10.

Akamai Technologies Company 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.