Kentucky Retirement Systems Insurance Trust Fund Has $606,000 Stock Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 41.3% in the 4th quarter, Holdings Channel reports. The fund owned 6,338 shares of the technology infrastructure company’s stock after buying an additional 1,852 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Akamai Technologies were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in Akamai Technologies by 423.5% in the 4th quarter. Venturi Wealth Management LLC now owns 2,691 shares of the technology infrastructure company’s stock worth $257,000 after acquiring an additional 2,177 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Akamai Technologies by 10.9% in the fourth quarter. D.A. Davidson & CO. now owns 9,822 shares of the technology infrastructure company’s stock worth $939,000 after purchasing an additional 962 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Akamai Technologies by 3.7% during the fourth quarter. CIBC Asset Management Inc now owns 23,673 shares of the technology infrastructure company’s stock worth $2,264,000 after purchasing an additional 841 shares during the period. Sanctuary Advisors LLC grew its position in Akamai Technologies by 3.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,063 shares of the technology infrastructure company’s stock valued at $1,123,000 after purchasing an additional 384 shares in the last quarter. Finally, Palouse Capital Management Inc. increased its stake in Akamai Technologies by 94.9% in the 4th quarter. Palouse Capital Management Inc. now owns 24,209 shares of the technology infrastructure company’s stock valued at $2,316,000 after buying an additional 11,790 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % 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, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AKAM shares. UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. Evercore ISI restated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Citigroup cut their price target on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Finally, HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $117.95.

Akamai Technologies Trading Up 0.9 %

Shares of Akamai Technologies stock opened at $100.26 on Thursday. Akamai Technologies, Inc. has a 1 year low of $84.70 and a 1 year high of $113.36. The company’s fifty day simple moving average is $96.64 and its 200-day simple moving average is $97.96. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.57 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

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.