Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Lessened by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,413 shares of the technology infrastructure company’s stock after selling 143 shares during the quarter. Kentucky Retirement Systems’ holdings in Akamai Technologies were worth $996,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its position in Akamai Technologies by 5.1% in 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 purchasing an additional 202,746 shares during the last quarter. Nordea Investment Management AB lifted its position in Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after purchasing an additional 88,732 shares during the last quarter. Retirement Systems of Alabama lifted its position in Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after purchasing an additional 74,373 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after purchasing an additional 11,272 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AKAM has been the topic of several recent research reports. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $112.00 to $100.00 in a research report on Friday. Scotiabank cut their price objective on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday. Citigroup cut their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Bank of America downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $100.00 in a research report on Friday. One investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies Stock Performance

Shares of AKAM opened at $77.65 on Tuesday. The firm’s 50 day moving average is $95.75 and its 200-day moving average is $97.84. The stock has a market capitalization of $11.67 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock valued at $1,523,951 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.