Akamai Technologies, Inc. $AKAM Position Lessened by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Akamai Technologies by 9.9%, owning 68,401 shares worth approximately $5.46 million after selling 7,482 shares in the second quarter.
• Akamai Technologies' recent quarterly earnings report showed an EPS of $1.73, exceeding analysts' expectations and reflecting a 6.5% year-over-year revenue growth.
• Wall Street analysts have varied opinions on Akamai, with target price adjustments ranging from $84.00 to $95.00, indicating a consensus rating of "Hold" with a target price of $92.39.

US Bancorp DE decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,401 shares of the technology infrastructure company's stock after selling 7,482 shares during the period. US Bancorp DE's holdings in Akamai Technologies were worth $5,456,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. lifted its holdings in shares of Akamai Technologies by 97.4% in the 1st quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock worth $99,000 after purchasing an additional 604 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Akamai Technologies by 0.5% in the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after purchasing an additional 139 shares during the last quarter. Polianta Ltd bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $1,236,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Akamai Technologies by 1,663.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company's stock worth $81,927,000 after purchasing an additional 968,919 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of Akamai Technologies in the 1st quarter worth approximately $311,000. Institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James Financial cut their target price on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Scotiabank cut their target price on Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, August 8th. Morgan Stanley downgraded Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price on the stock. in a research note on Tuesday, August 5th. Finally, Weiss Ratings downgraded Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of "Hold" and a consensus price target of $92.39.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $73.80 on Tuesday. 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 capitalization of $10.58 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 3.50 and a beta of 0.75. The stock's fifty day simple moving average is $76.20 and its 200 day simple moving average is $77.25. 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 issued its 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 business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous 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, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies 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 transaction, the executive vice president directly owned 21,211 shares in the company, valued at $1,606,945.36. The trade was a 15.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies 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 transaction, the chief technology officer owned 27,910 shares in the company, valued at $2,149,070. The trade was a 9.71% 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 worth $917,290 in the last three months. 2.00% of the stock is currently owned by insiders.

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.

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