Alaska Permanent Fund Corp Buys New Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Alaska Permanent Fund Corp acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,431 shares of the technology infrastructure company’s stock, valued at approximately $1,590,000.

A number of other large investors have also modified their holdings of the company. Watershed Asset Management L.L.C. acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $294,000. Harvest Fund Management Co. Ltd raised its position in shares of Akamai Technologies by 126.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,617 shares of the technology infrastructure company’s stock worth $191,000 after acquiring an additional 904 shares during the period. NewSquare Capital LLC raised its position in shares of Akamai Technologies by 3.2% in the fourth quarter. NewSquare Capital LLC now owns 18,747 shares of the technology infrastructure company’s stock worth $2,219,000 after acquiring an additional 585 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $198,000. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Akamai Technologies by 25.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 143,027 shares of the technology infrastructure company’s stock worth $16,927,000 after purchasing an additional 28,985 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AKAM. Piper Sandler boosted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, Citigroup cut their price objective on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.60.

Insider Buying and Selling

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,353 shares of company stock valued at $3,688,883. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $101.79 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $15.42 billion, a P/E ratio of 28.84, a PEG ratio of 2.89 and a beta of 0.72. The company has a 50 day moving average price of $107.12 and a 200 day moving average price of $112.30. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17.

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

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.