Louisiana State Employees Retirement System Makes New $1.08 Million Investment in Akamai Technologies, Inc. (NASDAQ:AKAM)

Louisiana State Employees Retirement System purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,100 shares of the technology infrastructure company’s stock, valued at approximately $1,077,000.

Other hedge funds have also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $37,000. Headinvest LLC bought a new stake in shares of Akamai Technologies in the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $44,000. Finally, UMB Bank n.a. boosted its position in shares of Akamai Technologies by 144.3% in the 4th quarter. UMB Bank n.a. now owns 562 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 332 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock worth $3,688,883 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Up 0.9 %

NASDAQ:AKAM opened at $101.76 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $15.42 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. Akamai Technologies, Inc. has a one year low of $76.85 and a one year high of $129.17. The business has a fifty day moving average price of $107.57 and a 200-day moving average price of $112.44.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. Piper Sandler upped their price objective on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. HSBC cut Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. KeyCorp upped their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Finally, Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $121.27.

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.