Northern Trust Corp Trims Stock Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Northern Trust Corp reduced its holdings in Akamai Technologies by 0.8% during Q1, now owning 1.26% of the company worth approximately $148.7 million.
• Analysts have mixed ratings on Akamai Technologies, with a consensus target price of $94.89 and varied reviews ranging from "Strong Buy" to "Sell."
• Akamai Technologies reported earnings of $1.73 per share for the latest quarter, exceeding analyst expectations, with a revenue of $1.04 billion.

Northern Trust Corp reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,847,721 shares of the technology infrastructure company's stock after selling 14,124 shares during the period. Northern Trust Corp owned 1.26% of Akamai Technologies worth $148,742,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AKAM. MassMutual Private Wealth & Trust FSB raised its holdings in 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 purchasing an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after buying an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Akamai Technologies in the 1st quarter worth about $49,000. LRI Investments LLC increased its stake in shares of Akamai Technologies by 500.0% in the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in Akamai Technologies during the 1st quarter valued at about $65,000. 94.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the sale, the chief technology officer directly owned 27,910 shares in the company, valued at approximately $2,149,070. The trade was a 9.71% decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred 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 sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $922,740 in the last three months. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Performance

AKAM traded down $0.41 during mid-day trading on Thursday, reaching $77.86. 301,046 shares of the company traded hands, compared to its average volume of 2,378,731. The stock has a market capitalization of $11.16 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.76 and a beta of 0.76. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. The company's fifty day moving average price is $77.52 and its 200-day moving average price is $79.45. 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 released 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. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last 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, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AKAM shares. 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 for the company. Piper Sandler reduced their price objective on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. UBS Group lifted their price objective on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $94.89.

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.