Public Employees Retirement System of Ohio cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,951 shares of the technology infrastructure company's stock after selling 5,501 shares during the period. Public Employees Retirement System of Ohio's holdings in Akamai Technologies were worth $5,951,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Earnest Partners LLC boosted its position in Akamai Technologies by 1.3% in the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company's stock worth $191,966,000 after purchasing an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company's stock worth $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Akamai Technologies by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company's stock worth $127,105,000 after purchasing an additional 14,347 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after purchasing an additional 11,272 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company's stock worth $58,678,000 after purchasing an additional 162,700 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Akamai Technologies
In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % 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, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now owns 19,510 shares of the company's stock, 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. Insiders sold 7,500 shares of company stock worth $669,425 in the last quarter. 1.80% of the stock is owned by corporate insiders.
Akamai Technologies Price Performance
NASDAQ AKAM traded down $0.76 during trading on Friday, hitting $99.24. 1,564,642 shares of the stock traded hands, compared to its average volume of 1,676,197. The company has a market capitalization of $14.91 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. The firm has a 50-day simple moving average of $98.19 and a 200-day simple moving average of $96.53. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.
Analysts Set New Price Targets
AKAM has been the topic of several research reports. Hsbc Global Res raised Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Tigress Financial reaffirmed a "strong-buy" rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Scotiabank decreased their price objective on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a research note on Friday, November 8th. Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. Finally, Robert W. Baird decreased their price objective on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.61.
Check Out Our Latest Stock Report on Akamai Technologies
Akamai Technologies Profile
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Free Report)
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.
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