Akamai Technologies, Inc. $AKAM Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has significantly reduced its stake in Akamai Technologies by 42.3%, now holding 17,945 shares worth $1.44 million.
• Akamai Technologies reported $1.73 earnings per share, surpassing expectations of $1.55, with a revenue increase of 6.5% year-over-year totaling $1.04 billion.
• Analysts have mixed views on Akamai, with target prices ranging from $83.00 to $95.00, resulting in a consensus rating of "Hold" for the stock.

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 42.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,945 shares of the technology infrastructure company's stock after selling 13,153 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Akamai Technologies were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Akamai Technologies during the first quarter worth about $21,929,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Akamai Technologies by 82.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 38,679 shares of the technology infrastructure company's stock worth $3,114,000 after acquiring an additional 17,522 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Akamai Technologies during the first quarter worth about $831,000. Korea Investment CORP increased its position in shares of Akamai Technologies by 64.1% during the first quarter. Korea Investment CORP now owns 63,254 shares of the technology infrastructure company's stock worth $5,092,000 after acquiring an additional 24,700 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in shares of Akamai Technologies by 175.2% during the first quarter. Brooklyn Investment Group now owns 1,076 shares of the technology infrastructure company's stock worth $87,000 after acquiring an additional 685 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 0.4%

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 company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 3.76 and a beta of 0.76. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. The stock's 50 day simple moving average is $77.52 and its two-hundred day simple 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 (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. Akamai Technologies's quarterly revenue was up 6.5% compared to the same quarter last year. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value of $303,040.00. Following the completion of the transaction, the executive vice president owned 21,211 shares of the company's stock, valued at approximately $1,606,945.36. The trade was a 15.87% 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 over the last ninety days. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AKAM shares. UBS Group lifted their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Raymond James Financial dropped their target price on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. KeyCorp initiated coverage on Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target for the company. Finally, Zacks Research upgraded Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $94.89.

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.