Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Bought by Illinois Municipal Retirement Fund


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Illinois Municipal Retirement Fund raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,543 shares of the technology infrastructure company’s stock after acquiring an additional 2,989 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Akamai Technologies were worth $3,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AKAM. Norges Bank acquired a new position in shares of Akamai Technologies in the fourth quarter worth $173,772,000. Mackenzie Financial Corp raised its holdings in shares of Akamai Technologies by 2,344.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,566,103 shares of the technology infrastructure company’s stock worth $164,425,000 after acquiring an additional 1,502,023 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Akamai Technologies by 78.6% in the fourth quarter. Nordea Investment Management AB now owns 3,106,943 shares of the technology infrastructure company’s stock worth $326,198,000 after acquiring an additional 1,367,090 shares during the last quarter. Clarus Group Inc. acquired a new position in shares of Akamai Technologies in the first quarter worth $2,476,000. Finally, First Trust Advisors LP raised its holdings in shares of Akamai Technologies by 9.9% in the fourth quarter. First Trust Advisors LP now owns 4,136,451 shares of the technology infrastructure company’s stock worth $434,286,000 after acquiring an additional 371,852 shares during the last quarter. 89.11% of the stock is owned by institutional investors.

In other Akamai Technologies news, EVP Aaron Ahola sold 1,920 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $102.25, for a total transaction of $196,320.00. Following the sale, the executive vice president now owns 3,885 shares in the company, valued at $397,241.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $108.72, for a total value of $978,480.00. Following the sale, the chief technology officer now owns 22,786 shares in the company, valued at approximately $2,477,293.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,888 shares of company stock worth $4,871,957. Insiders own 2.40% of the company’s stock.

A number of equities research analysts have recently commented on AKAM shares. JPMorgan Chase & Co. downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $117.00 in a research report on Wednesday, February 10th. Credit Suisse Group lifted their price objective on Akamai Technologies from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, February 10th. KeyCorp raised Akamai Technologies from a “sector weight” rating to an “overweight” rating and set a $119.00 price objective for the company in a research report on Monday, March 8th. Zacks Investment Research raised Akamai Technologies from a “sell” rating to a “hold” rating and set a $116.00 price objective for the company in a research report on Wednesday, January 20th. Finally, Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Wednesday, February 10th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Buy” and an average target price of $121.73.

Shares of NASDAQ AKAM opened at $107.02 on Tuesday. Akamai Technologies, Inc. has a 1-year low of $92.64 and a 1-year high of $124.91. The business has a 50-day moving average of $103.81 and a 200-day moving average of $103.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.90 and a beta of 0.47.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Monday, February 8th. The technology infrastructure company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Akamai Technologies had a return on equity of 17.69% and a net margin of 18.01%. The company had revenue of $846.00 million during the quarter, compared to the consensus estimate of $829.46 million. During the same quarter in the prior year, the business earned $1.23 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Research analysts expect that Akamai Technologies, Inc. will post 4.18 EPS for the current fiscal year.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud and enterprise security solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.

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Institutional Ownership by Quarter for Akamai Technologies (NASDAQ:AKAM)

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