Ontario Teachers Pension Plan Board Has $1.28 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Ontario Teachers Pension Plan Board lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,810 shares of the technology infrastructure company’s stock after selling 7,645 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Akamai Technologies were worth $1,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $37,000. Turtle Creek Wealth Advisors LLC bought a new position in Akamai Technologies during the fourth quarter worth about $43,000. Lindbrook Capital LLC grew its holdings in Akamai Technologies by 43.7% during the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after purchasing an additional 125 shares during the period. Quadrant Capital Group LLC grew its holdings in Akamai Technologies by 40.3% during the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 129 shares during the period. Finally, Principal Securities Inc. bought a new position in Akamai Technologies during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com cut Akamai Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Bank of America cut their price target on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Morgan Stanley cut their price target on Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. KeyCorp cut their price target on Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Finally, Susquehanna cut their price target on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.65.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $88.34, for a total value of $265,020.00. Following the completion of the sale, the chief technology officer now owns 24,729 shares in the company, valued at approximately $2,184,559.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $88.34, for a total transaction of $265,020.00. Following the completion of the sale, the chief technology officer now owns 24,729 shares in the company, valued at approximately $2,184,559.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO F Thomson Leighton purchased 22,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $92.68 per share, with a total value of $2,038,960.00. Following the purchase, the chief executive officer now owns 2,342,621 shares in the company, valued at $217,114,114.28. The disclosure for this purchase can be found here. Insiders have sold 9,000 shares of company stock worth $826,460 in the last quarter. Insiders own 1.80% of the company’s stock.

Akamai Technologies Trading Down 0.3 %

AKAM traded down $0.33 during trading on Tuesday, reaching $96.00. 25,423 shares of the stock traded hands, compared to its average volume of 1,671,358. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $14.62 billion, a PE ratio of 23.96, a P/E/G ratio of 4.55 and a beta of 0.67. The stock’s 50-day moving average is $91.99 and its 200 day moving average is $104.16. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $986.97 million for the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies declared that its board has approved a stock buyback program on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to purchase up to 13.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.