State of Alaska Department of Revenue Sells 3,080 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

State of Alaska Department of Revenue trimmed its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,061 shares of the technology infrastructure company’s stock after selling 3,080 shares during the period. State of Alaska Department of Revenue’s holdings in Akamai Technologies were worth $7,220,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Baystate Wealth Management LLC lifted its stake in Akamai Technologies by 33.3% in the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Akamai Technologies by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the technology infrastructure company’s stock valued at $1,256,000 after purchasing an additional 100 shares during the last quarter. Carret Asset Management LLC lifted its stake in Akamai Technologies by 0.6% in the 1st quarter. Carret Asset Management LLC now owns 20,995 shares of the technology infrastructure company’s stock valued at $2,507,000 after purchasing an additional 125 shares during the last quarter. Ancora Advisors LLC raised its holdings in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 127 shares during the period. Finally, Mount Yale Investment Advisors LLC raised its holdings in Akamai Technologies by 2.0% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 6,997 shares of the technology infrastructure company’s stock valued at $835,000 after acquiring an additional 134 shares during the period. 92.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AKAM has been the topic of a number of recent research reports. KeyCorp cut their price target on shares of Akamai Technologies from $123.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. Piper Sandler reduced their price objective on shares of Akamai Technologies from $118.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, July 6th. Citigroup reduced their price objective on shares of Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. DA Davidson dropped their target price on shares of Akamai Technologies to $115.00 in a research note on Monday, August 15th. Finally, Morgan Stanley dropped their target price on shares of Akamai Technologies from $110.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $118.21.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $88.56 on Tuesday. The firm’s 50 day simple moving average is $92.47 and its 200 day simple moving average is $100.94. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $14.08 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.73 and a beta of 0.66. Akamai Technologies, Inc. has a 1-year low of $85.90 and a 1-year high of $123.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.04. Akamai Technologies had a net margin of 16.18% and a return on equity of 16.97%. The firm had revenue of $903.33 million for the quarter, compared to analyst estimates of $898.75 million. During the same quarter in the prior year, the firm earned $1.18 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts expect that Akamai Technologies, Inc. will post 4.19 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $94.25, for a total transaction of $471,250.00. Following the transaction, the chief technology officer now owns 14,835 shares of the company’s stock, valued at approximately $1,398,198.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Akamai Technologies Profile

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Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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