Empyrean Capital Partners LP Decreases Stock Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Empyrean Capital Partners LP reduced its holdings in Akamai Technologies by 63.0%, selling 340,598 shares, leaving them with 200,000 shares valued at approximately $16.1 million.
• Akamai Technologies recently reported an EPS of $1.73 for the quarter, exceeding analyst expectations and marking a 6.5% year-over-year revenue increase.
• Institutional investors, including several hedge funds, own approximately 94.28% of Akamai Technologies, reflecting significant interest and investment in the company.

Empyrean Capital Partners LP lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 63.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the technology infrastructure company's stock after selling 340,598 shares during the period. Empyrean Capital Partners LP owned about 0.14% of Akamai Technologies worth $16,100,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, 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 completion of the transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the transaction, the executive vice president directly owned 21,211 shares of the company's stock, valued at $1,606,945.36. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,000 shares of company stock valued at $922,740. Insiders own 2.00% of the company's stock.

Akamai Technologies Trading Up 1.8%

Shares of NASDAQ:AKAM traded up $1.37 during trading on Friday, reaching $78.56. The stock had a trading volume of 1,786,671 shares, compared to its average volume of 2,031,975. The business has a fifty day moving average price of $77.35 and a 200-day moving average price of $78.37. 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 stock has a market cap of $11.26 billion, a P/E ratio of 27.86, a PEG ratio of 3.74 and a beta of 0.77. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Scotiabank decreased their price objective on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday, August 8th. UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target on the stock. Finally, Raymond James Financial reduced their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $92.39.

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.