State of Alaska Department of Revenue Decreases Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

State of Alaska Department of Revenue lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 79,061 shares of the technology infrastructure company’s stock after selling 3,080 shares during the quarter. State of Alaska Department of Revenue’s holdings in Akamai Technologies were worth $7,220,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Johnson Financial Group Inc. purchased a new stake in Akamai Technologies during the fourth quarter worth approximately $25,000. Ancora Advisors LLC lifted its stake in Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Karlinski Andrew C purchased a new stake in Akamai Technologies in the first quarter valued at approximately $30,000. Baystate Wealth Management LLC lifted its stake in Akamai Technologies by 33.3% in the first quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 92.23% of the company’s stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $88.56 on Tuesday. The firm has a market capitalization of $14.08 billion, a PE ratio of 25.16, a P/E/G ratio of 1.73 and a beta of 0.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50-day moving average of $92.47 and a two-hundred day moving average of $100.94. Akamai Technologies, Inc. has a 12 month low of $85.90 and a 12 month high of $123.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last posted its earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.04. Akamai Technologies had a return on equity of 16.97% and a net margin of 16.18%. The business had revenue of $903.33 million during the quarter, compared to analyst estimates of $898.75 million. During the same quarter last year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.19 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $94.25, for a total transaction of $471,250.00. Following the completion of the sale, the chief technology officer now owns 14,835 shares in the company, valued at approximately $1,398,198.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AKAM shares. Citigroup reduced their price objective on Akamai Technologies from $105.00 to $98.00 in a research note on Wednesday, August 10th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Monday. KeyCorp decreased their target price on Akamai Technologies from $123.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 10th. Truist Financial decreased their target price on Akamai Technologies from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Finally, Evercore ISI decreased their target price on Akamai Technologies to $110.00 in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.21.

About Akamai Technologies

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Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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