Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,264 shares of the technology infrastructure company’s stock after selling 877 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Akamai Technologies were worth $1,769,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AKAM. Truvestments Capital LLC purchased a new position in shares of Akamai Technologies in the 1st quarter worth about $211,000. Quadrature Capital Ltd acquired a new stake in shares of Akamai Technologies in the first quarter valued at about $2,610,000. Advisors Asset Management Inc. grew its stake in Akamai Technologies by 26.3% in the first quarter. Advisors Asset Management Inc. now owns 11,743 shares of the technology infrastructure company’s stock worth $1,277,000 after purchasing an additional 2,446 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Akamai Technologies in the 1st quarter worth approximately $1,093,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the first quarter worth $31,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, CEO F Thomson Leighton acquired 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the acquisition, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at approximately $217,114,114.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total transaction of $467,900.00. Following the completion of the sale, the executive vice president now directly owns 9,938 shares in the company, valued at $929,998.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton bought 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the purchase, the chief executive officer now owns 2,342,621 shares in the company, valued at $217,114,114.28. The disclosure for this purchase can be found here. Insiders sold a total of 9,000 shares of company stock valued at $826,460 over the last quarter. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.7 %

Shares of Akamai Technologies stock opened at $97.97 on Tuesday. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The firm has a market capitalization of $14.92 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 4.65 and a beta of 0.67. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average is $92.11 and its 200-day moving average is $103.47.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies announced that its board has authorized a share repurchase program on Thursday, May 9th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AKAM shares. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, May 17th. KeyCorp lowered their price target on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, TD Cowen cut their price objective on shares of Akamai Technologies from $130.00 to $129.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $114.44.

Akamai Technologies 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.