State of New Jersey Common Pension Fund D Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

State of New Jersey Common Pension Fund D lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 84,351 shares of the technology infrastructure company’s stock after selling 2,706 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Akamai Technologies were worth $8,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. raised its holdings in shares of Akamai Technologies by 0.5% during the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock worth $2,197,000 after acquiring an additional 110 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Akamai Technologies by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,517 shares of the technology infrastructure company’s stock worth $1,760,000 after purchasing an additional 116 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Akamai Technologies by 1.2% during the 3rd quarter. Shell Asset Management Co. now owns 9,800 shares of the technology infrastructure company’s stock worth $1,044,000 after purchasing an additional 116 shares during the last quarter. Two Sigma Securities LLC grew its position in Akamai Technologies by 3.6% in the 1st quarter. Two Sigma Securities LLC now owns 3,605 shares of the technology infrastructure company’s stock valued at $282,000 after acquiring an additional 126 shares in the last quarter. Finally, Ancora Advisors LLC grew its position in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AKAM shares. Guggenheim raised Akamai Technologies from a “sell” rating to a “neutral” rating in a research report on Thursday, October 26th. KeyCorp lifted their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Raymond James boosted their price objective on Akamai Technologies from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Morgan Stanley boosted their target price on Akamai Technologies from $102.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 8th. Finally, StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.11.

Get Our Latest Report on Akamai Technologies

Akamai Technologies Trading Up 1.2 %

Shares of AKAM stock opened at $128.32 on Monday. The business’s fifty day moving average price is $119.56 and its 200 day moving average price is $110.42. Akamai Technologies, Inc. has a 1-year low of $70.65 and a 1-year high of $129.17. The firm has a market capitalization of $19.35 billion, a PE ratio of 38.65, a P/E/G ratio of 3.23 and a beta of 0.76. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 2.30.

Insider Buying and Selling at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert Blumofe sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the transaction, the chief technology officer now owns 15,609 shares in the company, valued at $1,739,935.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,136 shares of company stock valued at $2,426,164. Insiders own 1.80% of the company’s stock.

Akamai Technologies Company Profile

(Free Report)

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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