Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 154,202 shares of the technology infrastructure company’s stock after selling 17,231 shares during the quarter. New York State Common Retirement Fund’s holdings in Akamai Technologies were worth $18,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AKAM. Planned Solutions Inc. acquired a new position in Akamai Technologies in the fourth quarter valued at about $37,000. Headinvest LLC acquired a new position in Akamai Technologies in the third quarter valued at about $40,000. Turtle Creek Wealth Advisors LLC acquired a new position in Akamai Technologies in the fourth quarter valued at about $43,000. Bruce G. Allen Investments LLC acquired a new position in Akamai Technologies in the fourth quarter valued at about $44,000. Finally, Lindbrook Capital LLC lifted its position in Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AKAM shares. Piper Sandler upped their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.60.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were 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 directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 over the last three months. Insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $101.68 on Monday. The firm has a market capitalization of $15.41 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.87 and a beta of 0.72. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $106.97 and its two-hundred day moving average is $112.32.

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

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.