Kentucky Retirement Systems Has $996,000 Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kentucky Retirement Systems reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,413 shares of the technology infrastructure company’s stock after selling 143 shares during the quarter. Kentucky Retirement Systems’ holdings in Akamai Technologies were worth $996,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise boosted its holdings in shares of Akamai Technologies by 86.9% during the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after purchasing an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $827,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AKAM has been the subject of several research reports. Susquehanna decreased their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their target price for the company from $125.00 to $98.00 in a research note on Friday. Robert W. Baird reduced their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Royal Bank of Canada reduced 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Trading Up 1.2 %

Shares of AKAM stock opened at $77.65 on Tuesday. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $113.36. The firm’s fifty day simple moving average is $95.75 and its 200 day simple moving average is $97.84. The firm has a market capitalization of $11.67 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 3.50 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 (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were 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. The trade was a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is owned by company insiders.

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.