State of Alaska Department of Revenue Sells 13,416 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

State of Alaska Department of Revenue decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 43.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,127 shares of the technology infrastructure company's stock after selling 13,416 shares during the period. State of Alaska Department of Revenue's holdings in Akamai Technologies were worth $1,638,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AKAM. Banque Cantonale Vaudoise raised its stake in shares of Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company's stock worth $4,481,000 after purchasing an additional 20,633 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company's stock worth $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock worth $90,083,000 after acquiring an additional 11,272 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock worth $19,018,000 after acquiring an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $827,000. Institutional investors own 94.28% of the company's stock.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares of the company's stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,782 shares of company stock worth $1,523,951. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

Shares of AKAM stock traded up $0.35 on Friday, hitting $100.01. 1,466,567 shares of the company's stock were exchanged, compared to its average volume of 1,613,507. 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 12 month low of $84.70 and a 12 month high of $114.67. The stock has a market cap of $15.02 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company has a 50 day moving average of $96.60 and a 200 day moving average of $97.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AKAM shares. Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. UBS Group started coverage on Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 target price on the stock. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $117.95.

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.