Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAMFree Report) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,351 shares of the technology infrastructure company’s stock after selling 2,706 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Akamai Technologies worth $8,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathstone Family Office LLC lifted its position in Akamai Technologies by 28.1% in the third quarter. Pathstone Family Office LLC now owns 13,931 shares of the technology infrastructure company’s stock worth $1,484,000 after purchasing an additional 3,057 shares during the period. AlphaStar Capital Management LLC lifted its position in Akamai Technologies by 13.6% in the third quarter. AlphaStar Capital Management LLC now owns 5,149 shares of the technology infrastructure company’s stock worth $549,000 after purchasing an additional 618 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Akamai Technologies by 13.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,696 shares of the technology infrastructure company’s stock worth $1,459,000 after purchasing an additional 1,635 shares during the period. Shell Asset Management Co. lifted its position in Akamai Technologies by 1.2% in the third quarter. Shell Asset Management Co. now owns 9,800 shares of the technology infrastructure company’s stock worth $1,044,000 after purchasing an additional 116 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 829,661 shares of the technology infrastructure company’s stock valued at $88,392,000 after acquiring an additional 10,900 shares during the last quarter. 91.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the sale, the chief technology officer now owns 15,609 shares in the company, valued at $1,739,935.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Robert Blumofe sold 2,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the transaction, the chief technology officer now owns 15,609 shares of the company’s stock, valued at $1,739,935.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 21,136 shares of company stock worth $2,426,164 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 1.2 %

AKAM stock opened at $128.32 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 2.30. Akamai Technologies, Inc. has a 52-week low of $70.65 and a 52-week high of $129.17. The company has a 50-day moving average of $119.56 and a two-hundred day moving average of $110.42. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 3.23 and a beta of 0.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AKAM shares. Guggenheim upgraded Akamai Technologies from a “sell” rating to a “neutral” rating in a research report on Thursday, October 26th. KeyCorp increased their price objective on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Susquehanna started coverage on Akamai Technologies in a research report on Friday, December 15th. They set a “positive” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Akamai Technologies from $74.00 to $78.00 and gave the company an “underweight” rating in a research report on Wednesday, November 8th. Finally, Raymond James boosted their target price on shares of Akamai Technologies from $115.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.11.

View Our Latest Stock Analysis on Akamai Technologies

Akamai Technologies Profile

(Free Report)

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software 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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