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

Illinois Municipal Retirement Fund raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,784 shares of the technology infrastructure company’s stock after acquiring an additional 7,851 shares during the period. Illinois Municipal Retirement Fund owned 0.08% of Akamai Technologies worth $11,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth about $57,000. Covestor Ltd boosted its stake in shares of Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares during the period. Finally, Principal Securities Inc. boosted its stake in shares of Akamai Technologies by 24.2% during the fourth quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock worth $86,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred 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 owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AKAM. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their target price for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Finally, 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 note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Trading Up 0.5 %

Shares of Akamai Technologies stock opened at $78.05 on Wednesday. The company has a 50-day moving average of $95.37 and a two-hundred day moving average of $97.67. The stock has a market cap of $11.73 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

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