Louisiana State Employees Retirement System Cuts Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Louisiana State Employees Retirement System cut its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,500 shares of the technology infrastructure company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Akamai Technologies were worth $858,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Akamai Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after purchasing an additional 124,359 shares during the period. Earnest Partners LLC grew its stake in shares of Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after buying an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after buying an additional 347,626 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Akamai Technologies by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after acquiring an additional 14,347 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after acquiring an additional 222,290 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the sale, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

Akamai Technologies Price Performance

AKAM opened at $100.57 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 3.24 and a beta of 0.68. The stock has a fifty day simple moving average of $101.00 and a two-hundred day simple moving average of $97.23. 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 Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same period last year, the business earned $1.01 EPS. Akamai Technologies’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Akamai Technologies, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AKAM shares. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, July 29th. Scotiabank upped their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, TD Cowen increased their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.47.

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.