Palouse Capital Management Inc. Acquires 11,790 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Palouse Capital Management Inc. increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 94.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,209 shares of the technology infrastructure company’s stock after acquiring an additional 11,790 shares during the period. Akamai Technologies comprises 1.5% of Palouse Capital Management Inc.’s holdings, making the stock its 29th largest holding. Palouse Capital Management Inc.’s holdings in Akamai Technologies were worth $2,316,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the last quarter. Eastern Bank bought a new position in Akamai Technologies during the third quarter worth $71,000. Covestor Ltd raised its stake in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after buying an additional 174 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock valued at $1,523,951 in the last quarter. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of several research analyst reports. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Citigroup reduced their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, Scotiabank reduced their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.95.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $100.01 on Friday. The company’s fifty day moving average price is $96.60 and its 200-day moving average price is $97.88. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $114.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Akamai Technologies Company 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.