New York State Common Retirement Fund Has $10.47 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

New York State Common Retirement Fund decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 98.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 109,463 shares of the technology infrastructure company’s stock after selling 7,377,500 shares during the period. New York State Common Retirement Fund owned 0.07% of Akamai Technologies worth $10,470,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its position in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Akamai Technologies by 6.9% during the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock worth $205,743,000 after purchasing an additional 138,380 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after purchasing an additional 88,732 shares during the period. Retirement Systems of Alabama grew its holdings in Akamai Technologies by 8.9% in the 4th quarter. Retirement Systems of Alabama now owns 911,528 shares of the technology infrastructure company’s stock valued at $87,188,000 after buying an additional 74,373 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the period. 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 stock. Royal Bank of Canada reduced their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $125.00 to $98.00 in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday. Finally, Citigroup lowered their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Insider Activity at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 over the last ninety days. Insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

AKAM stock opened at $77.65 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $113.36. The company has a market capitalization of $11.67 billion, a P/E ratio of 23.82, a PEG ratio of 3.50 and a beta of 0.65. The company has a fifty day moving average price of $95.75 and a 200-day moving average price of $97.84.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts expect 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.