Aberdeen Group plc Raises Stock Position in Akamai Technologies, Inc. $AKAM

Key Points

• Aberdeen Group plc has significantly increased its stake in Akamai Technologies by 134.2%, now owning approximately 145,177 shares valued at $11.56 million.
• Akamai reported $1.73 earnings per share for the most recent quarter, surpassing analysts' expectations of $1.55, with revenue also exceeding forecasts at $1.04 billion.
• Research analysts have mixed opinions on Akamai's stock, with ratings ranging from "sell" to "buy", and a consensus price target of $94.89.

Aberdeen Group plc boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 134.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,177 shares of the technology infrastructure company's stock after acquiring an additional 83,193 shares during the quarter. Aberdeen Group plc owned 0.10% of Akamai Technologies worth $11,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AKAM. Beverly Hills Private Wealth LLC raised its stake in Akamai Technologies by 4.7% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company's stock valued at $228,000 after buying an additional 126 shares during the last quarter. Opes Wealth Management LLC raised its stake in Akamai Technologies by 2.7% during the 1st quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock valued at $392,000 after buying an additional 128 shares during the last quarter. Amalgamated Bank raised its stake in Akamai Technologies by 0.5% during the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock valued at $2,341,000 after buying an additional 139 shares during the last quarter. Horizon Investments LLC raised its stake in Akamai Technologies by 7.2% during the 1st quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company's stock valued at $179,000 after buying an additional 149 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after buying an additional 155 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, the chief technology officer owned 27,910 shares in the company, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the 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 of the company's stock, valued at $1,606,945.36. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,157 shares of company stock valued at $1,927,014. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM traded up $1.32 during midday trading on Friday, hitting $77.64. The company had a trading volume of 1,719,179 shares, compared to its average volume of 2,324,997. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.88 and a beta of 0.76. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The company has a fifty day moving average of $77.63 and a two-hundred day moving average of $79.78.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping the consensus estimate 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 return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies's revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business 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, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Scotiabank decreased their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price for the company. in a research note on Tuesday, August 5th. Raymond James Financial decreased their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They set a "sell" rating and a $67.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Akamai Technologies has an average rating of "Hold" and a consensus target price of $94.89.

Akamai Technologies 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.