New Mexico Educational Retirement Board Sells 200 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

New Mexico Educational Retirement Board lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,248 shares of the technology infrastructure company’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Akamai Technologies were worth $693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AKAM. Banque Cantonale Vaudoise raised its holdings in shares of Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after purchasing an additional 20,633 shares during the last quarter. Principal Financial Group Inc. increased its stake in Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after buying an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $827,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 in the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AKAM. 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 on the stock. Citigroup reduced their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, November 11th. Robert W. Baird reduced their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Scotiabank lowered their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and an average target price of $117.95.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $99.37 on Wednesday. The company has a 50 day moving average of $96.63 and a 200 day moving average of $97.95. 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 stock has a market cap of $14.93 billion, a P/E ratio of 29.40, a P/E/G ratio of 3.56 and a beta of 0.65. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $113.36.

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.