Mirae Asset Global Investments Co. Ltd. Has $1.96 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,172 shares of the technology infrastructure company’s stock after buying an additional 971 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Akamai Technologies were worth $1,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of Akamai Technologies by 38.8% during the 4th 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 in the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies in the third quarter valued at approximately $71,000. Covestor Ltd increased its position in shares of Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Akamai Technologies during the third quarter worth $102,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Up 2.5 %

Shares of NASDAQ:AKAM opened at $102.10 on Tuesday. The company has a market cap of $15.34 billion, a price-to-earnings ratio of 30.21, 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 $128.62. The firm has a fifty day moving average price of $96.38 and a two-hundred day moving average price of $97.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AKAM shares. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. 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 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 note on Monday, November 11th. Citigroup decreased their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, UBS Group initiated coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $116.10.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’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 sale, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,282 shares of company stock valued at $2,099,996. Company insiders own 1.80% of the company’s stock.

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.