California State Teachers Retirement System Buys 4,753 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

California State Teachers Retirement System raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,130 shares of the technology infrastructure company’s stock after acquiring an additional 4,753 shares during the period. California State Teachers Retirement System owned about 0.17% of Akamai Technologies worth $27,639,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Akamai Technologies in the first quarter valued at $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Akamai Technologies in the fourth quarter valued at $43,000. Lindbrook Capital LLC boosted its stake in Akamai Technologies by 43.7% in 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 in the last quarter. Covestor Ltd boosted its stake in Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 310 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Akamai Technologies by 40.3% in 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 in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Akamai Technologies news, EVP Anthony P. Williams sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now directly owns 9,938 shares in the company, valued at $929,998.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now directly owns 9,938 shares in the company, valued at $929,998.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $93.54, for a total value of $93,540.00. Following the completion of the transaction, the director now owns 14,519 shares of the company’s stock, valued at $1,358,107.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,000 shares of company stock worth $826,460. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AKAM. Susquehanna reduced their price objective on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 10th. Piper Sandler reduced their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada reduced their price objective on Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, May 17th. Finally, HSBC raised Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.44.

Akamai Technologies Trading Up 0.1 %

Shares of Akamai Technologies stock traded up $0.08 during trading hours on Thursday, hitting $98.36. The company’s stock had a trading volume of 15,794 shares, compared to its average volume of 1,644,244. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The company has a market capitalization of $14.98 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 4.69 and a beta of 0.67. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The stock has a 50 day moving average of $92.24 and a 200 day moving average of $103.29.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. Akamai Technologies’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. Analysts predict that Akamai Technologies, Inc. will post 4.38 earnings per share for the current year.

Akamai Technologies announced that its board has initiated a share buyback plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Akamai Technologies 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.