Kentucky Retirement Systems Insurance Trust Fund Has $453,000 Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,486 shares of the technology infrastructure company’s stock after selling 427 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Akamai Technologies were worth $453,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Earnest Partners LLC raised its stake in Akamai Technologies by 1.3% in 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 period. Dimensional Fund Advisors LP raised its stake in 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 valued at $156,088,000 after buying an additional 347,626 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in Akamai Technologies by 1.0% in the second 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 buying an additional 14,347 shares during the period. Renaissance Technologies LLC raised its stake in Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after buying an additional 162,700 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Akamai Technologies by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 558,291 shares of the technology infrastructure company’s stock valued at $50,291,000 after buying an additional 14,353 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Up 1.6 %

Shares of AKAM stock opened at $87.36 on Wednesday. The stock’s fifty day moving average price is $99.51 and its two-hundred day moving average price is $96.54. The company has a market cap of $13.12 billion, a PE ratio of 25.85, a P/E/G ratio of 3.33 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’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 owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,500 shares of company stock valued at $1,065,975. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. TD Cowen increased their target price on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Finally, Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.47.

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.