Strs Ohio Increases Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Strs Ohio lifted its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,349 shares of the technology infrastructure company’s stock after acquiring an additional 6,545 shares during the quarter. Strs Ohio’s holdings in Akamai Technologies were worth $7,379,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AKAM. Ancora Advisors LLC lifted its position in shares of 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 acquiring an additional 127 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $37,000. Headinvest LLC acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $40,000. Belpointe Asset Management LLC lifted its stake in shares of Akamai Technologies by 50.1% during the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after buying an additional 170 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AKAM shares. KeyCorp raised their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 14th. JPMorgan Chase & Co. raised their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler raised their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.27.

Insider Buying and Selling

In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s 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 sale, 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 have sold 33,353 shares of company stock valued at $3,688,883 in the last quarter. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $100.34 on Thursday. The company’s fifty day simple moving average is $109.64 and its 200-day simple moving average is $112.53. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.20 billion, a PE ratio of 28.42, a P/E/G ratio of 2.89 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.84 EPS for the current year.

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.