Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,100 shares of the technology infrastructure company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Akamai Technologies were worth $775,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sovran Advisors LLC acquired a new position in shares of Akamai Technologies during the fourth quarter valued at about $302,000. Lightrock Netherlands B.V. acquired a new position in shares of Akamai Technologies during the fourth quarter valued at about $4,806,000. Robinson Value Management Ltd. increased its holdings in shares of Akamai Technologies by 2.7% during the fourth quarter. Robinson Value Management Ltd. now owns 22,215 shares of the technology infrastructure company’s stock valued at $2,125,000 after acquiring an additional 580 shares in the last quarter. AlphaStar Capital Management LLC increased its holdings in shares of Akamai Technologies by 14.8% during the fourth quarter. AlphaStar Capital Management LLC now owns 14,131 shares of the technology infrastructure company’s stock valued at $1,352,000 after acquiring an additional 1,823 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Akamai Technologies during the fourth quarter valued at about $281,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 in the last three months. 1.80% of the stock is currently owned by company insiders.

Akamai Technologies Trading Down 0.6 %

Shares of AKAM stock opened at $99.37 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 3.56 and a beta of 0.65. The stock has a 50 day simple moving average of $96.63 and a 200-day simple moving average of $97.95. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $113.36.

Analysts Set New Price Targets

A number of brokerages recently commented on AKAM. Citigroup dropped their target price on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Scotiabank dropped their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Robert W. Baird dropped their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.95.

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.