Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 950,606 shares of the technology infrastructure company’s stock after selling 10,184 shares during the quarter. California Public Employees Retirement System’s holdings in Akamai Technologies were worth $112,504,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AKAM. Planned Solutions Inc. acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $37,000. Headinvest LLC acquired a new stake in Akamai Technologies during the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $44,000. Finally, Lindbrook Capital LLC lifted its position in Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after acquiring an additional 125 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock valued at $3,688,883 over the last three months. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AKAM shares. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. KeyCorp increased their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, Piper Sandler increased their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average price target of $121.27.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $101.76 on Wednesday. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The stock has a market capitalization of $15.42 billion, a P/E ratio of 28.83, a PEG ratio of 2.85 and a beta of 0.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average price is $107.57 and its 200 day moving average price is $112.44.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

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.