Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.06 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,943 shares of the technology infrastructure company’s stock after selling 1,043 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Akamai Technologies were worth $3,055,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AKAM. Royal London Asset Management Ltd. raised its holdings in shares of Akamai Technologies by 12.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 69,458 shares of the technology infrastructure company’s stock valued at $6,644,000 after purchasing an additional 7,595 shares during the period. Vinva Investment Management Ltd raised its stake in Akamai Technologies by 67.8% during the 4th quarter. Vinva Investment Management Ltd now owns 5,399 shares of the technology infrastructure company’s stock worth $516,000 after buying an additional 2,182 shares during the period. Xponance Inc. boosted its holdings in Akamai Technologies by 2.0% in the fourth quarter. Xponance Inc. now owns 21,281 shares of the technology infrastructure company’s stock worth $2,036,000 after acquiring an additional 411 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $841,000. Finally, TCTC Holdings LLC increased its holdings in shares of Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after acquiring an additional 102 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. Corporate insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 2.1 %

Shares of NASDAQ AKAM opened at $82.77 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market capitalization of $12.44 billion, a PE ratio of 25.39, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a one year low of $75.50 and a one year high of $110.14. The business’s fifty day moving average price is $90.45 and its 200-day moving average price is $95.09.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AKAM. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. Citigroup dropped their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Evercore ISI reissued an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, Royal Bank of Canada cut their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

About Akamai Technologies

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.