Akamai Technologies, Inc. $AKAM Shares Acquired by Paralel Advisors LLC

Key Points

• Paralel Advisors LLC increased its stake in Akamai Technologies by 43.8% during Q2, now owning 33,188 shares valued at approximately $2.6 million.
• Several hedge funds have recently significantly raised their positions in Akamai, with Alyeska Investment Group L.P. boosting its stake by 1,001.4% to 1,753,400 shares.
• Akamai reported earnings of $1.73 EPS for the latest quarter, exceeding analyst expectations and increasing revenue by 6.5% year-over-year to over $1 billion.

Paralel Advisors LLC increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 43.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,188 shares of the technology infrastructure company's stock after purchasing an additional 10,110 shares during the quarter. Paralel Advisors LLC's holdings in Akamai Technologies were worth $2,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. lifted its position in Akamai Technologies by 1,001.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company's stock worth $141,149,000 after buying an additional 1,594,206 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in 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 valued at $81,927,000 after buying an additional 968,919 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Akamai Technologies by 147.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,471,281 shares of the technology infrastructure company's stock worth $117,349,000 after acquiring an additional 875,712 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Akamai Technologies during the 2nd quarter worth $56,821,000. Finally, Vanguard Group Inc. boosted its position in shares of Akamai Technologies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock valued at $1,503,205,000 after acquiring an additional 425,461 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $76.65, for a total transaction of $383,250.00. Following the transaction, the executive vice president owned 27,349 shares in the company, valued at $2,096,300.85. This trade represents a 15.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of the company's stock in a transaction 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 owned 27,910 shares of the company's stock, valued at approximately $2,149,070. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $917,290. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AKAM shares. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research raised shares of Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. Weiss Ratings downgraded shares of Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 8th. Scotiabank reduced their price target on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a research report on Friday, August 8th. Finally, The Goldman Sachs Group began coverage on Akamai Technologies in a research report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $92.53.

Akamai Technologies Price Performance

Shares of AKAM opened at $74.71 on Thursday. The company has a market cap of $10.71 billion, a P/E ratio of 26.49, a PEG ratio of 3.64 and a beta of 0.75. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $105.50. 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 firm's 50 day moving average price is $76.34 and its 200 day moving average price is $77.04.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released 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. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm posted $1.58 EPS. Akamai Technologies's revenue for the quarter was up 6.5% on a year-over-year basis. 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, research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

About Akamai Technologies

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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