Strs Ohio Has $7.38 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Strs Ohio grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 62,349 shares of the technology infrastructure company’s stock after acquiring an additional 6,545 shares during the period. Strs Ohio’s holdings in Akamai Technologies were worth $7,379,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Fairfield Bush & CO. acquired a new stake in shares of Akamai Technologies during the 1st quarter worth about $107,000. Private Advisor Group LLC increased its position in shares of Akamai Technologies by 16.0% during the 1st quarter. Private Advisor Group LLC now owns 4,491 shares of the technology infrastructure company’s stock worth $536,000 after purchasing an additional 620 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Akamai Technologies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,740 shares of the technology infrastructure company’s stock worth $2,596,000 after purchasing an additional 1,346 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Akamai Technologies by 2.3% during the 1st quarter. Cibc World Market Inc. now owns 10,741 shares of the technology infrastructure company’s stock worth $1,282,000 after purchasing an additional 237 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Akamai Technologies by 48.7% during the 1st quarter. Cetera Investment Advisers now owns 2,789 shares of the technology infrastructure company’s stock worth $333,000 after purchasing an additional 914 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $100.34 on Thursday. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.89 and a beta of 0.72. The firm’s 50 day simple moving average is $109.64 and its 200 day simple moving average is $112.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. Akamai Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of recent analyst reports. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Piper Sandler increased their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Finally, StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Insider Activity at Akamai Technologies

In related news, COO Adam Karon sold 8,394 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at approximately $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 in the last ninety days. Company insiders own 2.00% 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.