Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,043 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,943 shares of the technology infrastructure company’s stock after selling 1,043 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Akamai Technologies were worth $3,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service lifted its stake in Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after purchasing an additional 273,043 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares in the last quarter. Tredje AP fonden lifted its position in Akamai Technologies by 580.4% in the 4th quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock worth $16,239,000 after buying an additional 144,823 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Akamai Technologies by 20.0% in the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after buying an additional 139,760 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on 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 owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Karon sold 6,431 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the completion of the sale, the chief operating officer now directly owns 14,239 shares in the company, valued at approximately $1,146,097.11. This represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. Insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Up 2.1 %

AKAM opened at $82.77 on Tuesday. The stock has a market cap of $12.44 billion, a PE ratio of 25.39, a PEG ratio of 2.74 and a beta of 0.68. The business has a 50 day moving average of $90.45 and a 200-day moving average of $95.09. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.14. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Friday, February 21st. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Susquehanna dropped their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $106.55.

Akamai Technologies 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.