Illinois Municipal Retirement Fund purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,602 shares of the technology infrastructure company’s stock, valued at approximately $1,089,000.
A number of other hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in shares of Akamai Technologies by 13.4% during the fourth quarter. First Trust Advisors LP now owns 3,797,735 shares of the technology infrastructure company’s stock valued at $328,048,000 after acquiring an additional 448,348 shares during the last quarter. PGGM Investments purchased a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $29,391,000. Renaissance Group LLC purchased a new stake in shares of Akamai Technologies during the third quarter worth approximately $27,537,000. Cookson Peirce & Co. Inc. acquired a new position in Akamai Technologies in the 3rd quarter valued at $25,013,000. Finally, California Public Employees Retirement System raised its stake in Akamai Technologies by 50.2% in the 4th quarter. California Public Employees Retirement System now owns 777,414 shares of the technology infrastructure company’s stock valued at $67,153,000 after purchasing an additional 259,990 shares during the last quarter. Institutional investors own 89.32% of the company’s stock.
In other Akamai Technologies news, Director Bernardus Johannes M. Verwaayen sold 25,062 shares of Akamai Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $87.74, for a total value of $2,198,939.88. Following the sale, the director now owns 25,062 shares in the company, valued at $2,198,939.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.
Akamai Technologies stock opened at $99.60 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $92.98 and a 200 day moving average price of $89.23. Akamai Technologies, Inc. has a 12-month low of $67.28 and a 12-month high of $103.29. The stock has a market cap of $15.47 billion, a P/E ratio of 36.22, a PEG ratio of 2.13 and a beta of 0.53.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 11th. The technology infrastructure company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.10. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The company had revenue of $772.12 million for the quarter, compared to analyst estimates of $749.76 million. During the same period in the previous year, the business posted $1.07 EPS. As a group, analysts forecast that Akamai Technologies, Inc. will post 3.44 EPS for the current year.
Several equities research analysts have issued reports on AKAM shares. Nomura lifted their target price on shares of Akamai Technologies from $81.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Cowen cut shares of Akamai Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Piper Jaffray Companies reissued an “overweight” rating and issued a $103.00 price target (up from $97.00) on shares of Akamai Technologies in a research note on Tuesday, October 29th. BidaskClub upgraded shares of Akamai Technologies from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Morgan Stanley upped their price objective on shares of Akamai Technologies from $111.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $100.26.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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