Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,784 shares of the technology infrastructure company’s stock after acquiring an additional 7,851 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Akamai Technologies were worth $11,936,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AKAM. Empirical Finance LLC boosted its holdings in shares of Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after purchasing an additional 103 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after purchasing an additional 115 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of Akamai Technologies by 1.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The shares were 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 of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Akamai Technologies Price Performance

AKAM opened at $78.05 on Wednesday. The company has a 50-day moving average of $95.37 and a 200-day moving average of $97.67. The company has a market capitalization of $11.73 billion, a P/E ratio of 23.94, a PEG ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $113.36. 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) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AKAM. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $100.00 in a report on Friday, February 21st. Susquehanna decreased their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Scotiabank cut their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Citigroup cut their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Robert W. Baird cut their target price on shares of 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.55.

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.