New York State Teachers Retirement System Sells 4,101 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

New York State Teachers Retirement System decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 approximately 0.09% of Akamai Technologies worth $10,658,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AKAM. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after purchasing an additional 155 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after buying an additional 234 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies during the fourth quarter valued at $49,000. LRI Investments LLC raised its stake in shares of Akamai Technologies by 500.0% during the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after purchasing an additional 520 shares in the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after buying an additional 102 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AKAM has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. UBS Group boosted their price objective on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen lowered Akamai Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Scotiabank dropped their price target on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler reissued a "neutral" rating and set a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.25.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded down $0.42 on Monday, reaching $79.06. 1,627,825 shares of the company's stock were exchanged, compared to its average volume of 2,082,883. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The stock has a fifty day simple moving average of $78.71 and a 200-day simple moving average of $84.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.51 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 earnings per share. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was 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 approximately $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president owned 43,575 shares in the company, valued at $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 corporate 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.