Intech Investment Management LLC reduced its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 20.9% during the first quarter, HoldingsChannel reports. The firm owned 35,450 shares of the technology infrastructure company’s stock after selling 9,344 shares during the quarter. Intech Investment Management LLC’s holdings in Akamai Technologies were worth $2,854,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Akamai Technologies by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock valued at $1,503,205,000 after acquiring an additional 425,461 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Akamai Technologies by 6.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company’s stock worth $200,015,000 after purchasing an additional 160,665 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Akamai Technologies by 2.3% during the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company’s stock worth $199,961,000 after purchasing an additional 56,411 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Akamai Technologies by 1,001.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock worth $141,149,000 after purchasing an additional 1,594,206 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Akamai Technologies by 16.4% during the first quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company’s stock worth $85,434,000 after purchasing an additional 149,762 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Morgan Stanley cut shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price on the stock. in a report on Tuesday, August 5th. Piper Sandler dropped their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. Zacks Research raised shares of Akamai Technologies to a “hold” rating in a report on Monday, August 11th. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They set an “underweight” rating and a $63.00 target price on the stock. Finally, Raymond James Financial lowered their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Akamai Technologies has a consensus rating of “Hold” and an average target price of $92.39.
Check Out Our Latest Report on Akamai Technologies
Akamai Technologies Stock Performance
Shares of AKAM opened at $76.84 on Monday. The firm has a 50-day moving average price of $77.20 and a 200 day moving average price of $78.08. The firm has a market capitalization of $11.02 billion, a PE ratio of 27.25, a P/E/G ratio of 3.69 and a beta of 0.77. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80.
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last announced its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. Akamai Technologies’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.
Insider Activity at Akamai Technologies
In related news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the transaction, the chief technology officer owned 27,910 shares in the company, valued at $2,149,070. This represents a 9.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the completion of the transaction, the executive vice president owned 21,211 shares of the company’s stock, valued at $1,606,945.36. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $922,740 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.
About Akamai Technologies
(Free Report)
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.
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