Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 699,242 shares of the technology infrastructure company's stock after selling 67,627 shares during the quarter. Retirement Systems of Alabama owned approximately 0.46% of Akamai Technologies worth $82,755,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AKAM. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $37,000. Headinvest LLC purchased a new position in shares of Akamai Technologies in the third quarter worth about $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $43,000. Bruce G. Allen Investments LLC purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $44,000. Finally, Lindbrook Capital LLC lifted its stake 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 worth $49,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HSBC downgraded shares of Akamai Technologies from a "hold" rating to a "reduce" rating and decreased their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. Robert W. Baird raised shares of Akamai Technologies from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. KeyCorp raised their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an "overweight" rating in a research note on Friday, January 19th. Piper Sandler lifted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 14th. Finally, Citigroup reduced their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a "neutral" rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.60.

Akamai Technologies Stock Down 0.1 %

NASDAQ AKAM traded down $0.11 on Friday, hitting $101.68. 820,088 shares of the stock were exchanged, compared to its average volume of 1,107,475. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The company has a market cap of $15.41 billion, a PE ratio of 28.80, a PEG ratio of 2.87 and a beta of 0.72. The company has a 50-day moving average price of $106.97 and a 200-day moving average price of $112.32.

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 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 company had revenue of $995.00 million during the quarter, compared to analysts' expectations of $999.09 million. During the same quarter in the previous year, the business posted $1.01 EPS. The firm's revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Anthony P. Williams sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief operating officer now owns 6,697 shares of the company's stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock worth $3,688,883 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

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.