New York State Teachers Retirement System Has $10.66 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

New York State Teachers Retirement System lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 132,395 shares of the technology infrastructure company's stock after selling 4,101 shares during the period. New York State Teachers Retirement System owned 0.09% of Akamai Technologies worth $10,658,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP grew its holdings in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after acquiring an additional 690,341 shares during the period. Norges Bank acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $477,454,000. Mackenzie Financial Corp grew its holdings in shares of Akamai Technologies by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock valued at $232,198,000 after buying an additional 81,744 shares during the period. Earnest Partners LLC grew its holdings in shares of Akamai Technologies by 2.7% in the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock valued at $211,935,000 after buying an additional 58,013 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Akamai Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock valued at $178,085,000 after buying an additional 163,472 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AKAM shares. Oppenheimer started coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target for the company. Scotiabank decreased their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Piper Sandler reissued a "neutral" rating and issued a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. UBS Group upped their target price on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, KeyCorp initiated coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Akamai Technologies currently has a consensus rating of "Hold" and a consensus price target of $101.25.

Akamai Technologies Stock Performance

Shares of AKAM stock traded down $0.26 on Friday, reaching $79.20. The stock had a trading volume of 1,159,299 shares, compared to its average volume of 2,084,712. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm's 50-day moving average is $78.71 and its two-hundred day moving average is $84.21. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 2.51 and a beta of 0.77. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80.

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, beating analysts' consensus estimates of $1.58 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. Akamai Technologies's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

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

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.