Alaska Permanent Fund Corp Invests $1.59 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Alaska Permanent Fund Corp bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,431 shares of the technology infrastructure company's stock, valued at approximately $1,590,000.

Other hedge funds have also recently modified their holdings of the company. Planned Solutions Inc. purchased a new position in Akamai Technologies during the fourth quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC purchased a new position in Akamai Technologies during the fourth quarter worth approximately $43,000. Bruce G. Allen Investments LLC purchased a new position in Akamai Technologies during the fourth quarter worth approximately $44,000. Headinvest LLC purchased a new position in Akamai Technologies during the third quarter worth approximately $40,000. Finally, Lindbrook Capital LLC lifted its position in shares of Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company's stock valued at $49,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Down 0.1 %

NASDAQ:AKAM traded down $0.11 during midday trading on Friday, reaching $101.68. The company had a trading volume of 820,088 shares, compared to its average volume of 1,613,802. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.89 and a beta of 0.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock's fifty day simple moving average is $106.97 and its 200-day simple moving average is $112.27. Akamai Technologies, Inc. has a 12-month low of $76.85 and a 12-month high of $129.17.

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

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction dated 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 sale, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Adam Karon sold 14,349 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 4,500 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,353 shares of company stock worth $3,688,883. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

AKAM has been the topic of several research reports. Piper Sandler raised their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an "overweight" rating in a research report on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, January 25th. HSBC cut Akamai Technologies from a "hold" rating to a "reduce" rating and cut their price target for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Robert W. Baird raised Akamai Technologies from a "neutral" rating to an "outperform" rating and increased their price target for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. 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 given a strong buy rating to the company's stock. According to MarketBeat, Akamai Technologies has a consensus rating of "Moderate Buy" and an average price target of $121.60.

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.