State of New Jersey Common Pension Fund D Has $5.24 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

State of New Jersey Common Pension Fund D reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,769 shares of the technology infrastructure company’s stock after selling 134 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Akamai Technologies were worth $5,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Palouse Capital Management Inc. lifted its holdings in Akamai Technologies by 94.9% during the 4th quarter. Palouse Capital Management Inc. now owns 24,209 shares of the technology infrastructure company’s stock worth $2,316,000 after buying an additional 11,790 shares in the last quarter. Principal Securities Inc. lifted its holdings in Akamai Technologies by 24.2% during the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after buying an additional 174 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in Akamai Technologies during the 4th quarter worth $4,734,000. Asset Management One Co. Ltd. lifted its holdings in Akamai Technologies by 7.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 58,958 shares of the technology infrastructure company’s stock worth $5,717,000 after buying an additional 4,331 shares in the last quarter. Finally, Howard Bailey Securities LLC lifted its holdings in Akamai Technologies by 16.5% during the 4th quarter. Howard Bailey Securities LLC now owns 3,127 shares of the technology infrastructure company’s stock worth $299,000 after buying an additional 444 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares of the company’s stock, 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. In the last 90 days, insiders sold 15,782 shares of company stock worth $1,523,951. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Price Performance

AKAM stock opened at $100.26 on Thursday. The stock has a 50-day moving average price of $96.64 and a two-hundred day moving average price of $97.96. The stock has a market cap of $15.06 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 3.57 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $113.36.

Analyst Ratings Changes

Several research analysts have issued reports on AKAM shares. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Citigroup reduced their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, November 11th. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. Finally, Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and an average price target of $117.95.

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.