Optimize Financial Inc Invests $1.82 Million in Akamai Technologies, Inc. $AKAM

Key Points

• Optimize Financial Inc acquired 22,604 shares of Akamai Technologies, Inc. for approximately $1.82 million, making it the fund's 13th largest position.
• Several institutional investors have increased or established stakes in Akamai, with 94.28% of the stock currently owned by institutional investors and hedge funds.
• Akamai Technologies reported $1.73 EPS for the last quarter, exceeding analysts' expectations, while issuing a FY 2025 guidance of 6.600-6.800 EPS.

Optimize Financial Inc acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 22,604 shares of the technology infrastructure company's stock, valued at approximately $1,820,000. Akamai Technologies comprises 0.7% of Optimize Financial Inc's investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Woodline Partners LP increased its holdings in Akamai Technologies by 3,783.0% during the 1st quarter. Woodline Partners LP now owns 186,036 shares of the technology infrastructure company's stock worth $14,976,000 after purchasing an additional 181,245 shares during the last quarter. Empowered Funds LLC increased its holdings in Akamai Technologies by 73.0% during the 1st quarter. Empowered Funds LLC now owns 7,134 shares of the technology infrastructure company's stock worth $574,000 after purchasing an additional 3,010 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Akamai Technologies during the 1st quarter worth approximately $311,000. United Services Automobile Association purchased a new stake in Akamai Technologies during the 1st quarter worth approximately $266,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Akamai Technologies by 5.0% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,382 shares of the technology infrastructure company's stock worth $353,000 after purchasing an additional 210 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AKAM has been the topic of several analyst reports. Raymond James Financial dropped their price objective on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Morgan Stanley downgraded Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target for the company. in a report on Tuesday, August 5th. The Goldman Sachs Group initiated coverage on Akamai Technologies in a report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target for the company. Finally, Zacks Research upgraded Akamai Technologies to a "hold" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of "Hold" and a consensus price target of $92.39.

Akamai Technologies Stock Performance

AKAM traded down $2.36 during trading on Friday, reaching $76.84. 1,518,720 shares of the company were exchanged, compared to its average volume of 1,632,376. The stock has a market cap of $11.02 billion, a P/E ratio of 27.25, a PEG ratio of 3.81 and a beta of 0.77. The firm has a 50 day moving average of $77.20 and a 200 day moving average of $78.08. The company has a current ratio of 2.31, a quick 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 quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. 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 forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity

In other news, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total value of $303,040.00. Following the completion of the sale, the executive vice president owned 21,211 shares in the company, valued at $1,606,945.36. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the completion of the sale, the executive vice president owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. This trade represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $922,740 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.