New York Life Investment Management LLC Has $2.58 Million Stock Holdings in Akamai Technologies, Inc. $AKAM

New York Life Investment Management LLC grew its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 71.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,051 shares of the technology infrastructure company’s stock after acquiring an additional 14,192 shares during the period. New York Life Investment Management LLC’s holdings in Akamai Technologies were worth $2,580,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AKAM. Hantz Financial Services Inc. grew its stake in Akamai Technologies by 24.3% in the third quarter. Hantz Financial Services Inc. now owns 830 shares of the technology infrastructure company’s stock valued at $63,000 after acquiring an additional 162 shares during the period. Mutual Advisors LLC grew its position in shares of Akamai Technologies by 4.0% in the 2nd quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock valued at $372,000 after purchasing an additional 177 shares during the period. Main Management ETF Advisors LLC increased its stake in Akamai Technologies by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the technology infrastructure company’s stock worth $935,000 after purchasing an additional 192 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in Akamai Technologies by 130.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock worth $26,000 after purchasing an additional 195 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in Akamai Technologies by 3.2% during the 2nd quarter. Meridian Wealth Management LLC now owns 6,354 shares of the technology infrastructure company’s stock worth $507,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 6,560 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $88.03, for a total transaction of $577,476.80. Following the transaction, the chief financial officer owned 16,442 shares of the company’s stock, valued at $1,447,389.26. The trade was a 28.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $90.17, for a total value of $450,850.00. Following the sale, the executive vice president owned 17,513 shares in the company, valued at approximately $1,579,147.21. This represents a 22.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 28,818 shares of company stock valued at $2,589,254. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AKAM has been the subject of several research analyst reports. President Capital upped their price target on shares of Akamai Technologies from $104.00 to $116.00 and gave the company a “buy” rating in a report on Friday, November 7th. The Goldman Sachs Group upped their target price on shares of Akamai Technologies from $67.00 to $69.00 and gave the stock a “sell” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 29th. Oppenheimer upped their price objective on Akamai Technologies from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada increased their price objective on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a report on Monday, January 5th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $96.94.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $104.61 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 2.28. The business has a 50-day moving average of $91.01 and a 200-day moving average of $82.78. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.92 and a beta of 0.70. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.