Credit Agricole S A Purchases 10,833 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Credit Agricole S A increased its stake in Akamai Technologies by 21.3% during the first quarter, totaling 61,647 shares valued at approximately $4.96 million.
• Akamai Technologies reported a Q2 earnings per share (EPS) of $1.73, exceeding the consensus estimate of $1.55, with revenues of $1.04 billion.
• Analysts have varied target prices for Akamai Technologies, with Raymond James lowering their target from $110 to $84 while maintaining an "outperform" rating.

Credit Agricole S A raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 21.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,647 shares of the technology infrastructure company's stock after purchasing an additional 10,833 shares during the quarter. Credit Agricole S A's holdings in Akamai Technologies were worth $4,963,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. 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 valued at $35,000 after acquiring an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after acquiring an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Akamai Technologies in the first quarter valued at $49,000. LRI Investments LLC raised its stake in Akamai Technologies by 500.0% during the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after acquiring an additional 520 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in Akamai Technologies during the 1st quarter worth $65,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Down 0.3%

NASDAQ:AKAM traded down $0.27 during mid-day trading on Thursday, reaching $78.00. The stock had a trading volume of 335,301 shares, compared to its average volume of 2,378,846. The business's 50 day moving average is $77.52 and its 200 day moving average is $79.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The stock has a market cap of $11.18 billion, a P/E ratio of 27.65, a PEG ratio of 3.76 and a beta of 0.76.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. The company 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 firm's revenue was up 6.5% compared to the same quarter last year. During the same period last 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, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research analyst reports. 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. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial decreased their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They issued a "sell" rating and a $67.00 target price for the company. Finally, Morgan Stanley downgraded shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target for the company. in a research report on Tuesday, August 5th. Two research analysts have 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 company. According to MarketBeat.com, Akamai Technologies has an average rating of "Hold" and a consensus price target of $94.89.

Insider Transactions at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the sale, the executive vice president directly owned 21,211 shares of the company's stock, valued at $1,606,945.36. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total value of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at $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. In the last quarter, insiders have sold 12,000 shares of company stock valued at $922,740. 2.00% of the stock is 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.