Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 143,027 shares of the technology infrastructure company's stock after purchasing an additional 28,985 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.09% of Akamai Technologies worth $16,927,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. RWA Wealth Partners LLC acquired a new position in shares of Akamai Technologies during the fourth quarter worth about $4,441,000. Duality Advisers LP acquired a new position in shares of Akamai Technologies during the fourth quarter worth about $476,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Akamai Technologies by 0.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company's stock worth $1,968,000 after acquiring an additional 108 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Akamai Technologies by 31.1% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,698 shares of the technology infrastructure company's stock worth $911,000 after acquiring an additional 1,826 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Akamai Technologies by 9.1% during the fourth quarter. Signaturefd LLC now owns 1,534 shares of the technology infrastructure company's stock worth $182,000 after acquiring an additional 128 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company's stock, valued at $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company's stock, valued at $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares of the company's stock, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,353 shares of company stock valued at $3,688,883. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AKAM. Royal Bank of Canada reiterated a "sector perform" rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. StockNews.com raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Thursday, January 25th. KeyCorp boosted their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an "overweight" rating in a report on Friday, January 19th. JPMorgan Chase & Co. boosted their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an "underweight" rating in a report on Wednesday, February 14th. Finally, Robert W. Baird raised shares of Akamai Technologies from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.27.

Akamai Technologies Trading Down 0.6 %

Shares of AKAM traded down $0.62 on Monday, hitting $100.88. 1,192,922 shares of the stock traded hands, compared to its average volume of 1,646,303. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $15.29 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. The stock's 50 day moving average is $108.03 and its two-hundred day moving average is $112.47. Akamai Technologies, Inc. has a 1 year low of $76.85 and a 1 year high of $129.17.

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

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.

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