Retirement Systems of Alabama Decreases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Retirement Systems of Alabama decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 699,242 shares of the technology infrastructure company’s stock after selling 67,627 shares during the quarter. Retirement Systems of Alabama owned approximately 0.46% of Akamai Technologies worth $82,755,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. grew its holdings in Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares during the last quarter. ORG Partners LLC grew its holdings in Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after purchasing an additional 100 shares during the last quarter. Private Trust Co. NA grew its holdings in Akamai Technologies by 17.9% in the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after purchasing an additional 108 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Akamai Technologies by 0.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after purchasing an additional 108 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Akamai Technologies by 0.5% in the third quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock valued at $2,197,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 0.1 %

Shares of AKAM stock traded down $0.11 during trading hours on Friday, reaching $101.68. The company had a trading volume of 820,088 shares, compared to its average volume of 1,107,475. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies, Inc. has a twelve month low of $76.85 and a twelve month high of $129.17. The company has a market capitalization of $15.41 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. The stock’s fifty day simple moving average is $106.97 and its 200 day simple moving average is $112.32.

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

Insider Buying and Selling

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the sale, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,353 shares of company stock worth $3,688,883. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AKAM. KeyCorp upped their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their price objective for the company from $109.00 to $96.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their price objective on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. Piper Sandler upped their price objective on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and a consensus target price of $121.60.

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.