Koshinski Asset Management Inc. acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,311 shares of the technology infrastructure company’s stock, valued at approximately $541,000.
A number of other hedge funds have also recently made changes to their positions in AKAM. Alyeska Investment Group L.P. purchased a new position in Akamai Technologies in the 3rd quarter valued at $65,270,000. Janus Henderson Group PLC lifted its holdings in Akamai Technologies by 5,158.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock valued at $59,877,000 after purchasing an additional 1,179,251 shares in the last quarter. Fairpointe Capital LLC lifted its holdings in Akamai Technologies by 44.0% in the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after purchasing an additional 981,069 shares in the last quarter. ETF Managers Group LLC purchased a new position in Akamai Technologies in the 2nd quarter valued at $45,156,000. Finally, FIL Ltd lifted its holdings in Akamai Technologies by 63.5% in the 2nd quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock valued at $92,609,000 after purchasing an additional 722,170 shares in the last quarter. Institutional investors own 86.36% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $65.63 on Friday. The firm has a market capitalization of $11,008.39, a PE ratio of 39.54, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $71.34.
AKAM has been the subject of a number of recent research reports. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. MKM Partners raised their target price on Akamai Technologies to $65.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $60.00 target price on shares of Akamai Technologies in a research note on Wednesday, October 25th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and issued a $62.00 target price (up from $57.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Akamai Technologies currently has a consensus rating of “Hold” and an average target price of $63.84.
In related news, CEO F Thomson Leighton acquired 18,545 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $53.91 per share, for a total transaction of $999,760.95. Following the purchase, the chief executive officer now owns 226,950 shares of the company’s stock, valued at approximately $12,234,874.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the completion of the transaction, the insider now owns 32,319 shares of the company’s stock, valued at approximately $2,142,426.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,971 shares of company stock valued at $4,141,642. 3.20% of the stock is currently owned by corporate insiders.
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About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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