Oregon Public Employees Retirement Fund Sells 180 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Oregon Public Employees Retirement Fund cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,832 shares of the technology infrastructure company’s stock after selling 180 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Akamai Technologies were worth $1,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of Akamai Technologies by 85.7% in the 3rd 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 during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the period. Wolverine Asset Management LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at approximately $57,000. Principal Securities Inc. grew its position in shares of Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after purchasing an additional 174 shares during the period. Finally, Covestor Ltd grew its position in shares of Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Trading Up 3.6 %

Shares of Akamai Technologies stock opened at $80.68 on Friday. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. The stock has a market cap of $12.13 billion, a P/E ratio of 24.75, a P/E/G ratio of 2.74 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $94.44 and its 200-day moving average is $97.25.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly 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 net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AKAM has been the subject of several research analyst reports. UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Royal Bank of Canada decreased their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday, February 21st. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

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.