Retirement Systems of Alabama Purchases 139,760 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Retirement Systems of Alabama boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 837,155 shares of the technology infrastructure company's stock after purchasing an additional 139,760 shares during the quarter. Retirement Systems of Alabama owned about 0.56% of Akamai Technologies worth $84,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Akamai Technologies by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,661 shares of the technology infrastructure company's stock worth $510,000 after buying an additional 328 shares during the period. Swedbank AB boosted its position in Akamai Technologies by 0.7% during the 2nd quarter. Swedbank AB now owns 87,808 shares of the technology infrastructure company's stock worth $7,910,000 after acquiring an additional 573 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Akamai Technologies by 1.4% in the second quarter. Assenagon Asset Management S.A. now owns 155,598 shares of the technology infrastructure company's stock worth $14,016,000 after purchasing an additional 2,198 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Akamai Technologies by 15.0% during the second quarter. Blue Trust Inc. now owns 4,961 shares of the technology infrastructure company's stock valued at $447,000 after purchasing an additional 648 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of Akamai Technologies by 2.9% during the second quarter. Boston Trust Walden Corp now owns 245,078 shares of the technology infrastructure company's stock valued at $22,077,000 after purchasing an additional 6,910 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 0.8 %

NASDAQ AKAM traded down $0.76 on Friday, hitting $99.24. 1,564,642 shares of the stock were exchanged, compared to its average volume of 1,676,197. The company's 50-day moving average price is $98.24 and its two-hundred day moving average price is $96.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $129.17. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 3.83 and a beta of 0.65.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AKAM shares. Robert W. Baird decreased their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, November 11th. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Finally, Tigress Financial restated a "strong-buy" rating and issued a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $117.61.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the transaction, the executive vice president now directly owns 26,703 shares of the company's stock, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Robert Blumofe sold 2,500 shares of the company's stock in a transaction dated 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 directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $669,425 over the last quarter. 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.