Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,949 shares of the technology infrastructure company’s stock after selling 635 shares during the period. Maryland State Retirement & Pension System’s holdings in Akamai Technologies were worth $760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AKAM. Geode Capital Management LLC raised its holdings in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares during the period. Nordea Investment Management AB raised its stake in shares of 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 acquiring an additional 138,380 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Akamai Technologies by 6.3% during 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 acquiring an additional 88,732 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock worth $88,213,000 after purchasing an additional 29,888 shares during the period. Finally, Retirement Systems of Alabama increased its holdings 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 in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AKAM has been the subject of several analyst reports. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Susquehanna dropped their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Finally, 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 report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $82.77 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $90.45 and a 200 day simple moving average of $95.09. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $110.14. The company has a market cap of $12.44 billion, a PE ratio of 25.39, a P/E/G ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, COO Adam Karon sold 5,628 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.20, for a total value of $485,133.60. Following the completion of the transaction, the chief operating officer now owns 24,597 shares of the company’s stock, valued at approximately $2,120,261.40. This represents a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 in the last ninety days. Company 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.