Akamai Technologies, Inc. $AKAM Holdings Boosted by JB Capital LLC

Key Points

• JB Capital LLC increased its stake in Akamai Technologies by 17.3% during the second quarter, accumulating a total of 59,655 shares valued at approximately $4.76 million.
• Akamai Technologies has recently faced a mix of ratings from analysts, with Goldman Sachs initiating coverage with a "sell" rating, while Weiss Ratings downgraded the stock to a "sell".
• In insider trading news, CTO Robert Blumofe sold 3,000 shares at an average price of $77.00, resulting in a total transaction of $231,000, which marked a 9.71% decrease in their holding.

JB Capital LLC boosted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,655 shares of the technology infrastructure company's stock after acquiring an additional 8,810 shares during the period. JB Capital LLC's holdings in Akamai Technologies were worth $4,758,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. WPG Advisers LLC acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $27,000. UMB Bank n.a. increased its stake in shares of Akamai Technologies by 50.8% during the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock valued at $32,000 after acquiring an additional 133 shares during the period. AlphaQuest LLC acquired a new position in shares of Akamai Technologies during the first quarter valued at approximately $42,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Akamai Technologies during the first quarter valued at approximately $49,000. Finally, Quarry LP increased its stake in shares of Akamai Technologies by 623.3% during 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 during the period. Institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They set a "sell" rating and a $67.00 price objective on the stock. Morgan Stanley cut shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a research report on Tuesday, August 5th. Piper Sandler lowered their price objective on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Weiss Ratings cut shares of Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded 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 five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $92.39.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the transaction, the chief technology officer owned 27,910 shares in the company, valued at approximately $2,149,070. The trade was a 9.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the sale, the executive vice president directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,000 shares of company stock worth $1,305,990. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

Shares of AKAM opened at $75.50 on Friday. The company has a market capitalization of $10.83 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. 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's fifty day moving average price is $76.25 and its 200 day moving average price is $77.41.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last 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. As a group, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.