Retirement Systems of Alabama Buys 149,762 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Retirement Systems of Alabama increased its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 16.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,061,290 shares of the technology infrastructure company's stock after acquiring an additional 149,762 shares during the quarter. Retirement Systems of Alabama owned about 0.73% of Akamai Technologies worth $85,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Akamai Technologies in the 4th quarter worth approximately $49,000. Van ECK Associates Corp increased its holdings in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after purchasing an additional 910 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Akamai Technologies during the 4th quarter worth about $617,000. Charles Schwab Investment Management Inc. increased its stake in Akamai Technologies by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock valued at $88,213,000 after acquiring an additional 29,888 shares during the period. Finally, Atria Investments Inc increased its stake in Akamai Technologies by 5.6% during the fourth quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company's stock valued at $526,000 after acquiring an additional 293 shares during the period. Institutional investors own 94.28% of the company's stock.

Insider Buying and Selling

In other news, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction on 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 transaction, the executive vice president now directly owns 43,575 shares of the company's stock, valued at $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies 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 now owns 10,809 shares in the company, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Akamai Technologies Trading Down 0.4%

AKAM stock traded down $0.32 during midday trading on Friday, reaching $78.38. The company's stock had a trading volume of 4,756,158 shares, compared to its average volume of 2,062,122. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The stock has a market cap of $11.46 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.48 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. The business's 50-day simple moving average is $77.80 and its 200-day simple moving average is $85.67.

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 firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business earned $1.64 earnings per share. The company's revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AKAM shares. Morgan Stanley lowered their price target on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research note on Friday, February 21st. Royal Bank Of Canada lowered their target price 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. Oppenheimer started coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price objective on the stock. Finally, Bank of America lowered Akamai Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Akamai Technologies has an average rating of "Hold" and a consensus price target of $101.25.

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.