New York State Teachers Retirement System Has $13.06 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

New York State Teachers Retirement System lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,496 shares of the technology infrastructure company’s stock after selling 3,659 shares during the quarter. New York State Teachers Retirement System’s holdings in Akamai Technologies were worth $13,056,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AKAM. Geode Capital Management LLC raised its position in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the period. Retirement Systems of Alabama raised its position in shares of Akamai Technologies by 20.0% during the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after purchasing an additional 139,760 shares during the period. Nordea Investment Management AB raised its position in shares of Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after purchasing an additional 138,380 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in shares of Akamai Technologies during the third quarter worth about $13,313,000. Finally, Invenomic Capital Management LP raised its position in shares of Akamai Technologies by 252.2% during the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company’s stock worth $17,766,000 after purchasing an additional 126,021 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Up 0.4 %

AKAM stock opened at $100.01 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $15.02 billion, a PE ratio of 29.59, a PEG ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $114.67. The business’s 50 day simple moving average is $96.62 and its 200 day simple moving average is $97.91.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of recent research reports. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Evercore ISI reissued an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Monday, December 2nd. 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. 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 investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.95.

Insider Buying and Selling

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction that occurred 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 directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred 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 directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is owned by insiders.

Akamai Technologies 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.