Retirement Systems of Alabama lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 81,973 shares of the technology infrastructure company’s stock after selling 1,194 shares during the quarter. Retirement Systems of Alabama’s holdings in Akamai Technologies were worth $5,332,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AKAM. Alyeska Investment Group L.P. acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $65,270,000. Hexavest Inc. acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $39,344,000. Commerzbank Aktiengesellschaft FI increased its stake in shares of Akamai Technologies by 374.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 583,988 shares of the technology infrastructure company’s stock valued at $37,983,000 after buying an additional 460,980 shares during the period. LSV Asset Management acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $12,023,000. Finally, First Quadrant L P CA increased its stake in shares of Akamai Technologies by 1,301.0% in the third quarter. First Quadrant L P CA now owns 173,721 shares of the technology infrastructure company’s stock valued at $8,464,000 after buying an additional 161,321 shares during the period. 84.77% of the stock is owned by institutional investors.
In other Akamai Technologies news, EVP James Gemmell sold 8,430 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $67.00, for a total transaction of $564,810.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Wheaton sold 10,000 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $66.29, for a total value of $662,900.00. Following the transaction, the insider now owns 32,319 shares in the company, valued at $2,142,426.51. The disclosure for this sale can be found here. Insiders have sold a total of 66,799 shares of company stock worth $3,976,520 over the last 90 days. Company insiders own 3.20% of the company’s stock.
Akamai Technologies, Inc. (NASDAQ AKAM) opened at $66.77 on Wednesday. The stock has a market capitalization of $11,314.56, a P/E ratio of 53.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.71. Akamai Technologies, Inc. has a twelve month low of $44.65 and a twelve month high of $69.56. The company has a current ratio of 2.82, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $649.08 million. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. sell-side analysts anticipate that Akamai Technologies, Inc. will post 2.14 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on AKAM shares. Guggenheim set a $74.00 price objective on Akamai Technologies and gave the company a “buy” rating in a research note on Tuesday, January 30th. B. Riley upped their price objective on Akamai Technologies from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 18th. BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Morgan Stanley reissued a “sell” rating and set a $52.00 target price on shares of Akamai Technologies in a research report on Wednesday, December 27th. Finally, Vetr raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $71.78 target price for the company in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $68.95.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Stock Observer and is the sole property of of Stock Observer. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.thestockobserver.com/2018/02/21/retirement-systems-of-alabama-sells-1194-shares-of-akamai-technologies-inc-akam.html.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM).
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.