State of Michigan Retirement System Acquires 1,500 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

State of Michigan Retirement System lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,389 shares of the technology infrastructure company’s stock after purchasing an additional 1,500 shares during the quarter. State of Michigan Retirement System’s holdings in Akamai Technologies were worth $4,437,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares during the period. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies in the 4th quarter worth $49,000. Bruce G. Allen Investments LLC increased its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at about $57,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Akamai Technologies by 443.2% in the fourth quarter. Jones Financial Companies Lllp now owns 804 shares of the technology infrastructure company’s stock valued at $77,000 after purchasing an additional 656 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Down 0.0 %

AKAM stock opened at $82.81 on Friday. Akamai Technologies, Inc. has a one year low of $75.50 and a one year high of $113.36. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a fifty day moving average price of $93.55 and a two-hundred day moving average price of $96.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for 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 anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of recent research reports. Citigroup dropped their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Evercore ISI restated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Finally, Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Insider Activity

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value 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 approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,213 shares of company stock valued at $1,948,202. 1.80% of the stock is owned by insiders.

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.