California Public Employees Retirement System Sells 10,184 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

California Public Employees Retirement System cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 950,606 shares of the technology infrastructure company’s stock after selling 10,184 shares during the quarter. California Public Employees Retirement System owned about 0.63% of Akamai Technologies worth $112,504,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Planned Solutions Inc. purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $37,000. Headinvest LLC purchased a new stake in shares of Akamai Technologies in the 3rd quarter worth about $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $43,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $44,000. Finally, Lindbrook Capital LLC grew its position in shares of Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Insider Transactions at Akamai Technologies

In other 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 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 through the SEC website. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of a number of recent research reports. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. KeyCorp increased their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Wednesday, February 14th. Finally, Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $121.27.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $101.76 on Wednesday. The firm’s 50 day moving average price is $107.57 and its 200-day moving average price is $112.44. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month 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 stock has a market capitalization of $15.42 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72.

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

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.