Teacher Retirement System of Texas Acquires New Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Teacher Retirement System of Texas purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,974 shares of the technology infrastructure company's stock, valued at approximately $1,769,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after acquiring an additional 155 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. LRI Investments LLC increased its stake in Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after purchasing an additional 520 shares during the last quarter. TCTC Holdings LLC raised its holdings in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares in the last quarter. Finally, Atlas Capital Advisors Inc. lifted its position in shares of Akamai Technologies by 200.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 708 shares of the technology infrastructure company's stock worth $68,000 after buying an additional 472 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

NASDAQ AKAM traded up $0.03 during trading hours on Monday, hitting $77.41. 1,249,752 shares of the stock were exchanged, compared to its average volume of 2,076,600. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The stock has a 50-day moving average of $78.55 and a 200 day moving average of $83.61. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.64 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of recent analyst reports. Scotiabank dropped their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 9th. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Morgan Stanley decreased their target price on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.25.

Insider Buying and Selling at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the sale, the chief operating officer directly owned 10,809 shares in the company, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the sale, the executive vice president owned 43,575 shares in the company, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by 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.