Oregon Public Employees Retirement Fund Sells 180 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Oregon Public Employees Retirement Fund decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,832 shares of the technology infrastructure company’s stock after selling 180 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Akamai Technologies were worth $1,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AKAM. National Pension Service grew its stake in shares of Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after acquiring an additional 273,043 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Akamai Technologies by 20.0% in the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Akamai Technologies by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after acquiring an additional 138,380 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Akamai Technologies in the third quarter worth $13,313,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of recent research reports. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Raymond James decreased their price target 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 downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Royal Bank of Canada decreased their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Robert W. Baird decreased their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s 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 completion of the sale, the executive vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $80.68 on Friday. The stock has a 50-day simple moving average of $94.44 and a 200 day simple moving average of $97.25. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly 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 net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.