Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,542 shares of the technology infrastructure company’s stock after acquiring an additional 657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Akamai Technologies were worth $684,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Akamai Technologies by 0.4% during the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock worth $1,250,409,000 after acquiring an additional 63,759 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Akamai Technologies by 10.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,719,117 shares of the technology infrastructure company’s stock valued at $288,219,000 after buying an additional 465,230 shares during the last quarter. Elliott Management Corp grew its position in Akamai Technologies by 19.2% in the 4th quarter. Elliott Management Corp now owns 2,383,468 shares of the technology infrastructure company’s stock valued at $145,582,000 after buying an additional 383,468 shares during the last quarter. Millennium Management LLC grew its position in Akamai Technologies by 220.0% in the 4th quarter. Millennium Management LLC now owns 2,351,173 shares of the technology infrastructure company’s stock valued at $143,610,000 after buying an additional 1,616,320 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Akamai Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,150,566 shares of the technology infrastructure company’s stock valued at $131,125,000 after buying an additional 43,330 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.
A number of equities analysts recently weighed in on AKAM shares. BidaskClub upgraded shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. KeyCorp lifted their price objective on shares of Akamai Technologies from $80.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI started coverage on shares of Akamai Technologies in a research report on Thursday, March 21st. They issued an “in-line” rating and a $70.00 price objective on the stock. Credit Suisse Group lowered their price objective on shares of Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of Akamai Technologies from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $82.47.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. The company had revenue of $706.51 million for the quarter, compared to analyst estimates of $698.33 million. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Analysts forecast that Akamai Technologies, Inc. will post 3.21 EPS for the current year.
In other news, insider Rick M. Mcconnell sold 22,775 shares of Akamai Technologies stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $70.88, for a total transaction of $1,614,292.00. Following the completion of the transaction, the insider now owns 26,533 shares of the company’s stock, valued at approximately $1,880,659.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Gemmell sold 10,356 shares of Akamai Technologies stock in a transaction on Monday, February 25th. The stock was sold at an average price of $70.37, for a total value of $728,751.72. Following the transaction, the executive vice president now directly owns 11,504 shares of the company’s stock, valued at approximately $809,536.48. The disclosure for this sale can be found here. Insiders have sold a total of 85,194 shares of company stock worth $6,237,808 over the last 90 days. Insiders own 2.40% of the company’s stock.
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About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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