California Public Employees Retirement System Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

California Public Employees Retirement System lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 672,931 shares of the technology infrastructure company's stock after selling 8,532 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Akamai Technologies worth $64,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AKAM. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the fourth quarter valued at $49,000. Bruce G. Allen Investments LLC boosted its stake in shares of Akamai Technologies by 38.8% in 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. Wolverine Asset Management LLC acquired a new stake in Akamai Technologies during the fourth quarter worth about $57,000. TCTC Holdings LLC raised its position in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after acquiring an additional 102 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company's stock valued at $77,000 after acquiring an additional 656 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently weighed in on AKAM. Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an "outperform" rating and a $100.00 target price for the company. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Scotiabank dropped their target price on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a research report on Friday, February 21st. Raymond James cut their price target on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Finally, Evercore ISI reiterated an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $106.55.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the transaction, the executive vice president now owns 25,211 shares of the company's stock, valued at $2,040,074.12. This trade represents a 13.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO F Thomson Leighton purchased 37,670 shares of the company's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Trading Down 6.5 %

Shares of Akamai Technologies stock traded down $5.09 during trading hours on Friday, hitting $73.69. The company's stock had a trading volume of 2,610,528 shares, compared to its average volume of 1,884,705. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 2.74 and a beta of 0.80. Akamai Technologies, Inc. has a twelve month low of $73.42 and a twelve month high of $107.60. The firm has a fifty day moving average of $88.11 and a 200-day moving average of $94.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

About Akamai Technologies

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.