Summit Trail Advisors LLC Has $406,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Summit Trail Advisors LLC increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 58.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,022 shares of the technology infrastructure company’s stock after acquiring an additional 1,488 shares during the period. Summit Trail Advisors LLC’s holdings in Akamai Technologies were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AKAM. Dimensional Fund Advisors LP boosted its position in shares of Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in Akamai Technologies in the second quarter valued at about $15,314,000. Renaissance Technologies LLC boosted its position in Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after buying an additional 162,700 shares in the last quarter. Distillate Capital Partners LLC acquired a new position in Akamai Technologies in the second quarter valued at about $14,130,000. Finally, Swedbank AB acquired a new position in Akamai Technologies in the first quarter valued at about $9,488,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the company’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 transaction of $221,525.00. Following the completion of the sale, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,500 shares of company stock valued at $965,245. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Down 1.6 %

AKAM opened at $93.10 on Wednesday. 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 company has a market cap of $13.99 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.53 and a beta of 0.68. The firm has a 50 day simple moving average of $99.00 and a 200 day simple moving average of $96.25. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. TD Cowen boosted their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Scotiabank reduced their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. Finally, DA Davidson reiterated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research report 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. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus 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.