California Public Employees Retirement System Has $64.37 Million Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

California Public Employees Retirement System trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 672,931 shares of the technology infrastructure company’s stock after selling 8,532 shares during the period. California Public Employees Retirement System owned 0.45% of Akamai Technologies worth $64,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AKAM. Allianz SE bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $143,000. Allstate Corp acquired a new position in Akamai Technologies in the fourth quarter valued at about $423,000. DnB Asset Management AS lifted its position in Akamai Technologies by 13.0% during the fourth quarter. DnB Asset Management AS now owns 29,418 shares of the technology infrastructure company’s stock worth $2,814,000 after purchasing an additional 3,382 shares during the period. Orion Portfolio Solutions LLC grew its stake in Akamai Technologies by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after buying an additional 114 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Akamai Technologies by 11.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 92,873 shares of the technology infrastructure company’s stock valued at $8,883,000 after buying an additional 9,798 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AKAM has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $112.00 to $100.00 in a research note on Friday, February 21st. Citigroup dropped their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Royal Bank of Canada decreased their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.55.

Insiders Place Their Bets

In other news, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The sale was disclosed in a 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 shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,394 shares of company stock worth $3,019,323. 1.80% of the stock is owned by corporate insiders.

Akamai Technologies Trading Up 0.1 %

AKAM opened at $80.60 on Wednesday. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $108.74. The company has a fifty day moving average of $89.20 and a 200-day moving average of $94.44. The stock has a market cap of $12.12 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Akamai Technologies Company 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.