GHP Investment Advisors Inc. lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,445 shares of the technology infrastructure company’s stock after acquiring an additional 825 shares during the period. GHP Investment Advisors Inc.’s holdings in Akamai Technologies were worth $2,045,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. CenterStar Asset Management LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $114,000. Avestar Capital LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $131,000. Delpha Capital Management LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $177,000. Welch & Forbes LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $203,000. Finally, Wealth Architects LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at approximately $202,000. 89.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) opened at $73.30 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 2.82. The company has a market capitalization of $12,747.27, a price-to-earnings ratio of 58.64, a P/E/G ratio of 2.68 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $78.28.
Akamai Technologies declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 8th that allows the company to repurchase $417.00 million in shares. This repurchase authorization allows the technology infrastructure company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.29, for a total value of $662,900.00. Following the sale, the insider now owns 32,319 shares of the company’s stock, valued at approximately $2,142,426.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO F Thomson Leighton purchased 17,537 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average cost of $57.01 per share, for a total transaction of $999,784.37. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 23,430 shares of company stock worth $1,577,710. 3.20% of the stock is owned by insiders.
A number of analysts have issued reports on AKAM shares. TheStreet raised Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. MKM Partners raised their target price on Akamai Technologies to $65.00 and gave the company a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $59.00 target price on shares of Akamai Technologies in a report on Monday, December 4th. SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 target price on shares of Akamai Technologies in a report on Thursday, December 7th. Finally, Credit Suisse Group raised Akamai Technologies from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.84.
Akamai Technologies Company Profile
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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