State of New Jersey Common Pension Fund D Has $5.24 Million Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

State of New Jersey Common Pension Fund D reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 54,769 shares of the technology infrastructure company’s stock after selling 134 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Akamai Technologies were worth $5,239,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Eastern Bank acquired a new stake in Akamai Technologies in the 3rd quarter valued at about $71,000. Principal Securities Inc. raised its holdings in Akamai Technologies by 24.2% in the 4th quarter. Principal Securities Inc. now owns 894 shares of the technology infrastructure company’s stock valued at $86,000 after acquiring an additional 174 shares during the period. Finally, Covestor Ltd raised its holdings in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on AKAM. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Citigroup lowered their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Scotiabank lowered their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Finally, Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $117.95.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $100.26 on Thursday. The company’s 50 day simple moving average is $96.64 and its 200 day simple moving average is $97.96. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 3.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $113.36.

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 that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % 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 quarter. Corporate insiders own 2.00% of the company’s stock.

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.