Kentucky Retirement Systems Has $1.25 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kentucky Retirement Systems decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,455 shares of the technology infrastructure company’s stock after selling 613 shares during the period. Kentucky Retirement Systems’ holdings in Akamai Technologies were worth $1,246,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AKAM. Norges Bank acquired a new position in shares of Akamai Technologies during the 4th quarter valued at about $325,242,000. Champlain Investment Partners LLC boosted its stake in Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after purchasing an additional 222,290 shares during the period. Intech Investment Management LLC boosted its stake in Akamai Technologies by 409.2% during the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after purchasing an additional 199,334 shares during the period. FIL Ltd lifted its position in shares of Akamai Technologies by 14.5% in the 4th quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock worth $174,248,000 after acquiring an additional 186,124 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Akamai Technologies by 23.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 912,409 shares of the technology infrastructure company’s stock worth $107,984,000 after acquiring an additional 176,173 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.6 %

Shares of NASDAQ:AKAM traded up $0.60 during midday trading on Friday, hitting $96.97. The company had a trading volume of 713,626 shares, compared to its average volume of 1,213,308. Akamai Technologies, Inc. has a 12 month low of $87.59 and a 12 month high of $129.17. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 4.65 and a beta of 0.67. The firm has a fifty day simple moving average of $92.06 and a 200 day simple moving average of $103.61.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.03. The firm had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, analysts predict that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies announced that its board has initiated a share repurchase plan on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology infrastructure company to buy up to 13.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on AKAM shares. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Wednesday. Bank of America cut their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, May 17th. Citigroup cut their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.65.

Insiders Place Their Bets

In other news, EVP Anthony P. Williams sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the sale, the executive vice president now directly owns 9,938 shares in the company, valued at $929,998.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO F Thomson Leighton purchased 22,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Anthony P. Williams sold 5,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the sale, the executive vice president now directly owns 9,938 shares in the company, valued at approximately $929,998.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,000 shares of company stock worth $826,460. Corporate insiders own 1.80% of the company’s stock.

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.