Akamai Technologies, Inc. $AKAM Shares Sold by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC significantly reduced its holdings in Akamai Technologies by 63.4%, selling 4,397 shares to end with 2,535 shares valued at approximately $202,000.
• Vanguard Group Inc. increased its stake in Akamai by 2.3%, now owning over 18 million shares worth about $1.5 billion, while institutional investors hold 94.28% of the stock.
• Akamai reported a quarterly earnings per share (EPS) of $1.73, surpassing estimates, and its fiscal year 2025 EPS guidance is set between $6.600 and $6.800.

Gagnon Securities LLC lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 63.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,535 shares of the technology infrastructure company's stock after selling 4,397 shares during the quarter. Gagnon Securities LLC's holdings in Akamai Technologies were worth $202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 worth $1,503,205,000 after buying an additional 425,461 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in Akamai Technologies by 6.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company's stock worth $200,015,000 after purchasing an additional 160,665 shares in the last quarter. Mackenzie Financial Corp increased its position in Akamai Technologies by 2.3% during the 1st quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock worth $199,961,000 after purchasing an additional 56,411 shares in the last quarter. Alyeska Investment Group L.P. increased its position in Akamai Technologies by 1,001.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company's stock worth $141,149,000 after purchasing an additional 1,594,206 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Akamai Technologies by 16.4% during the 1st quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company's stock worth $85,434,000 after purchasing an additional 149,762 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $76.60 on Wednesday. The stock's 50 day moving average price is $76.30 and its 200 day moving average price is $77.47. The firm has a market capitalization of $10.98 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly 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. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company 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 expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on AKAM. Piper Sandler dropped their price objective on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Morgan Stanley downgraded shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective for the company. in a research note on Tuesday, August 5th. Raymond James Financial dropped their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Akamai Technologies in a research note on Saturday, September 27th. Finally, Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of "Hold" and a consensus target price of $92.39.

Insider Activity

In other news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the transaction, the chief technology officer directly owned 27,910 shares in the company, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares of the company's stock, valued at approximately $1,606,945.36. This trade represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,000 shares of company stock worth $1,305,990. 2.00% of the stock is currently owned by insiders.

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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