Nicollet Investment Management Inc. Buys 238 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Nicollet Investment Management Inc. raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 19,790 shares of the technology infrastructure company’s stock after buying an additional 238 shares during the quarter. Nicollet Investment Management Inc.’s holdings in Akamai Technologies were worth $1,998,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AKAM. Empirical Finance LLC increased its stake in Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after acquiring an additional 103 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Akamai Technologies by 7.3% during the third quarter. CIBC Asset Management Inc now owns 22,832 shares of the technology infrastructure company’s stock worth $2,305,000 after buying an additional 1,562 shares in the last quarter. ING Groep NV lifted its stake in shares of Akamai Technologies by 26.7% in the 3rd quarter. ING Groep NV now owns 16,965 shares of the technology infrastructure company’s stock valued at $1,713,000 after acquiring an additional 3,573 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Akamai Technologies by 4.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,536 shares of the technology infrastructure company’s stock valued at $458,000 after acquiring an additional 188 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in Akamai Technologies by 5.6% during the 3rd quarter. Metis Global Partners LLC now owns 8,471 shares of the technology infrastructure company’s stock worth $855,000 after purchasing an additional 450 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Robert W. Baird dropped their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Trading Down 1.0 %

Shares of AKAM opened at $87.43 on Friday. The firm has a market cap of $13.13 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $86.78 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.33. The business has a 50-day moving average of $99.84 and a 200 day moving average of $96.78.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $1,065,975 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

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.