New York State Teachers Retirement System decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.8% during the 1st quarter, HoldingsChannel reports. The fund owned 244,415 shares of the technology infrastructure company’s stock after selling 1,879 shares during the period. New York State Teachers Retirement System’s holdings in Akamai Technologies were worth $17,527,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Focused Wealth Management Inc acquired a new stake in Akamai Technologies in the 4th quarter valued at about $29,000. Truvestments Capital LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at about $29,000. Liberty Wealth Management LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at about $32,000. Oregon Public Employees Retirement Fund raised its position in Akamai Technologies by 5,021.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,029,933 shares of the technology infrastructure company’s stock valued at $33,000 after purchasing an additional 1,990,300 shares in the last quarter. Finally, Private Capital Group LLC raised its position in Akamai Technologies by 148.5% in the 4th quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 395 shares in the last quarter. 88.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:AKAM opened at $76.90 on Tuesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.27. Akamai Technologies, Inc. has a 1 year low of $57.18 and a 1 year high of $86.19. The firm has a market cap of $12.61 billion, a P/E ratio of 27.86, a PEG ratio of 1.65 and a beta of 0.60.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The firm had revenue of $706.51 million for the quarter, compared to the consensus estimate of $698.33 million. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Analysts anticipate that Akamai Technologies, Inc. will post 3.21 earnings per share for the current year.
In other news, insider William Wheaton sold 6,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $80.00, for a total value of $480,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rick M. Mcconnell sold 22,775 shares of Akamai Technologies stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $70.88, for a total transaction of $1,614,292.00. Following the completion of the transaction, the insider now owns 26,533 shares of the company’s stock, valued at approximately $1,880,659.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,194 shares of company stock worth $6,237,808. 2.40% of the stock is owned by company insiders.
AKAM has been the topic of a number of analyst reports. Deutsche Bank lowered Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a research report on Monday, March 25th. Evercore ISI initiated coverage on Akamai Technologies in a research note on Thursday, March 21st. They set an “in-line” rating and a $70.00 price target on the stock. Needham & Company LLC initiated coverage on Akamai Technologies in a research note on Monday, April 22nd. They issued a “buy” rating and a $95.00 target price on the stock. Piper Jaffray Companies lifted their target price on Akamai Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, KeyCorp lifted their price target on Akamai Technologies from $80.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $82.47.
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Akamai Technologies Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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