Retirement Systems of Alabama Has $87.19 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Retirement Systems of Alabama boosted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 911,528 shares of the technology infrastructure company's stock after acquiring an additional 74,373 shares during the quarter. Retirement Systems of Alabama owned 0.61% of Akamai Technologies worth $87,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in shares of 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 period. Bruce G. Allen Investments LLC boosted its stake 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 valued at $53,000 after buying an additional 155 shares during the period. Eastern Bank purchased a new position in shares of Akamai Technologies during the 3rd quarter valued at $71,000. Covestor Ltd increased its stake in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies in the third quarter worth $102,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company's stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,282 shares of company stock valued at $2,099,996 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AKAM. Evercore ISI restated an "outperform" rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Robert W. Baird dropped their price objective on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research note on Monday, November 11th. Finally, Citigroup dropped their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $116.10.

Akamai Technologies Stock Performance

AKAM traded up $0.03 during midday trading on Friday, reaching $99.64. The company's stock had a trading volume of 1,484,455 shares, compared to its average volume of 1,613,507. The stock has a market cap of $14.97 billion, a P/E ratio of 29.48, a PEG ratio of 3.56 and a beta of 0.65. The company has a fifty day simple moving average of $96.30 and a 200 day simple moving average of $97.73. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17.

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.