Akamai Technologies, Inc. $AKAM Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,100 shares of the technology infrastructure company's stock after selling 3,300 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Akamai Technologies were worth $2,987,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in shares of Akamai Technologies during the first quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Akamai Technologies by 54.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after acquiring an additional 155 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Akamai Technologies during the first quarter worth $42,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Akamai Technologies in the first quarter valued at $49,000. Finally, Quarry LP raised its stake in shares of Akamai Technologies by 623.3% in the first quarter. Quarry LP now owns 622 shares of the technology infrastructure company's stock valued at $50,000 after acquiring an additional 536 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AKAM shares. Piper Sandler reduced their price target on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 target price on the stock. Scotiabank lowered their price target on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a report on Friday, August 8th. Raymond James Financial dropped their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $92.39.

Insider Activity

In other news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the transaction, the chief technology officer directly owned 27,910 shares of the company's stock, valued at $2,149,070. The trade was a 9.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total transaction of $388,700.00. Following the completion of the transaction, the executive vice president directly owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $922,740 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Down 3.0%

AKAM stock traded down $2.36 during midday 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 company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The stock's 50-day simple moving average is $77.20 and its 200 day simple moving average is $78.08. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 3.81 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share. 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 analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.