California Public Employees Retirement System Has $64.37 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

California Public Employees Retirement System reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 672,931 shares of the technology infrastructure company’s stock after selling 8,532 shares during the period. California Public Employees Retirement System’s holdings in Akamai Technologies were worth $64,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AKAM. TCTC Holdings LLC boosted its stake in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Akamai Technologies by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Akamai Technologies by 1.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock valued at $752,000 after buying an additional 116 shares during the last quarter. Delta Capital Management LLC grew its holdings in Akamai Technologies by 4.5% during the fourth quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after buying an additional 120 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in Akamai Technologies by 0.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company’s stock valued at $2,879,000 after buying an additional 140 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM opened at $80.60 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $108.74. The stock’s 50-day simple moving average is $89.20 and its 200 day simple moving average is $94.44.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity

In related news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the sale, the executive vice president now owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 4,652 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the transaction, the chief financial officer now owns 34,510 shares in the company, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock worth $3,019,323 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AKAM. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. Susquehanna reduced their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Scotiabank cut their target price on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 21st. Finally, Oppenheimer initiated coverage on Akamai Technologies in a research report on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $106.55.

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.