Public Employees Retirement System of Ohio Has $5.95 Million Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Public Employees Retirement System of Ohio lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,951 shares of the technology infrastructure company’s stock after selling 5,501 shares during the period. Public Employees Retirement System of Ohio’s holdings in Akamai Technologies were worth $5,951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC boosted its position in Akamai Technologies by 2.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after acquiring an additional 102 shares during the period. Empirical Finance LLC boosted its holdings in shares of Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after purchasing an additional 103 shares during the period. Van ECK Associates Corp grew its position in Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares in the last quarter. Farther Finance Advisors LLC lifted its position 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 worth $25,000 after buying an additional 114 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the subject of a number of research reports. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Monday, December 2nd. Robert W. Baird cut their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.61.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $99.24 on Friday. 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 one year low of $84.70 and a one year high of $129.17. The company has a fifty day moving average price of $98.19 and a 200 day moving average price of $96.50. The stock has a market cap of $14.91 billion, a P/E ratio of 29.36, a PEG ratio of 3.83 and a beta of 0.65.

Insider Activity

In related news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $669,425. Insiders own 1.80% of the company’s stock.

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.