Arizona State Retirement System Raises Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Arizona State Retirement System boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,997 shares of the technology infrastructure company’s stock after buying an additional 359 shares during the quarter. Arizona State Retirement System’s holdings in Akamai Technologies were worth $4,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Akamai Technologies by 5.1% in the 3rd 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 in the last quarter. Nordea Investment Management AB lifted its stake in 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 buying an additional 138,380 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Akamai Technologies by 6.3% in 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 buying an additional 88,732 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake 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 worth $87,188,000 after purchasing an additional 74,373 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research reports. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Friday, February 21st. Raymond James decreased their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Up 5.7 %

Akamai Technologies stock opened at $87.52 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $113.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm has a 50 day moving average price of $93.06 and a 200 day moving average price of $96.64. The company has a market capitalization of $13.16 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

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

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the transaction, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. The trade was a 30.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 31,896 shares of company stock worth $2,872,496. 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.