Delta Capital Management LLC Grows Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Delta Capital Management LLC boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,790 shares of the technology infrastructure company’s stock after acquiring an additional 120 shares during the period. Delta Capital Management LLC’s holdings in Akamai Technologies were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the last quarter. Eastern Bank purchased a new position in Akamai Technologies in the third quarter worth approximately $71,000. Covestor Ltd grew its holdings in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Akamai Technologies in the 3rd quarter valued at approximately $102,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $91.01 on Friday. 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 stock has a market capitalization of $13.67 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The business’s fifty day moving average price is $94.02 and its two-hundred day moving average price is $97.32.

Analyst Ratings Changes

AKAM has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Scotiabank decreased their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Finally, Citigroup reduced their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday. 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. According to data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus price target of $116.10.

Insiders Place Their Bets

In other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,282 shares of company stock valued at $2,099,996. 2.00% of the stock is currently owned by insiders.

Akamai Technologies 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.