Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,556 shares of the technology infrastructure company’s stock after selling 922 shares during the period. Kentucky Retirement Systems’ holdings in Akamai Technologies were worth $1,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter worth about $31,000. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Akamai Technologies in the second quarter valued at approximately $28,000. Finally, Family Firm Inc. purchased a new position in shares of Akamai Technologies during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Up 1.6 %

NASDAQ:AKAM opened at $87.36 on Wednesday. The business’s 50-day moving average is $99.51 and its two-hundred day moving average is $96.54. The firm has a market capitalization of $13.12 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.33 and a beta of 0.68. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AKAM. DA Davidson reiterated a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Monday, July 29th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Scotiabank cut their price objective 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. Finally, TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,500 shares of company stock worth $1,065,975. 2.00% of the stock is currently owned by corporate insiders.

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.