California Public Employees Retirement System Sells 10,184 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

California Public Employees Retirement System lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 950,606 shares of the technology infrastructure company's stock after selling 10,184 shares during the quarter. California Public Employees Retirement System owned approximately 0.63% of Akamai Technologies worth $112,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new stake in Akamai Technologies in the 4th quarter worth about $37,000. Headinvest LLC acquired a new stake in Akamai Technologies in the 3rd quarter worth about $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies in the 4th quarter worth about $43,000. Bruce G. Allen Investments LLC acquired a new stake in Akamai Technologies in the 4th quarter worth about $44,000. Finally, Lindbrook Capital LLC boosted its stake in Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company's stock worth $49,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AKAM shares. KeyCorp boosted their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, January 19th. Piper Sandler boosted their price target on Akamai Technologies from $130.00 to $136.00 and gave the company an "overweight" rating in a report on Wednesday, February 14th. Robert W. Baird upgraded Akamai Technologies from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Royal Bank of Canada reiterated a "sector perform" rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. Finally, HSBC lowered Akamai Technologies from a "hold" rating to a "reduce" rating and cut their price objective for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $121.27.

Insider Buying and Selling

In other news, COO Adam Karon sold 14,349 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,353 shares of company stock worth $3,688,883. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Akamai Technologies stock traded up $0.43 during midday trading on Wednesday, reaching $102.19. 996,771 shares of the company's stock were exchanged, compared to its average volume of 1,629,855. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 28.83, a P/E/G ratio of 2.85 and a beta of 0.72. The stock's 50-day simple moving average is $107.57 and its 200 day simple moving average is $112.44.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business had revenue of $995.00 million during the quarter, compared to analysts' expectations of $999.09 million. During the same quarter last year, the company posted $1.01 earnings per share. Akamai Technologies's quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

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.