Hsbc Holdings PLC Reduces Stock Position in Akamai Technologies, Inc. $AKAM

Key Points

• Hsbc Holdings PLC has reduced its stake in Akamai Technologies by 10.7%, selling 83,323 shares, and now owns a total of 694,885 shares valued at approximately $55.84 million.
• Akamai Technologies reported a quarterly earnings of $1.73 per share, exceeding the consensus estimate of $1.55, and its revenue increased by 6.5% year-over-year to $1.04 billion.
• Several institutional investors, including Vanguard Group, have increased their holdings in Akamai, with institutional ownership now at 94.28% of the company's stock.

Hsbc Holdings PLC reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 10.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 694,885 shares of the technology infrastructure company's stock after selling 83,323 shares during the period. Hsbc Holdings PLC owned about 0.48% of Akamai Technologies worth $55,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AKAM. Vanguard Group Inc. lifted its position in shares of Akamai Technologies by 2.3% during the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock worth $1,503,205,000 after purchasing an additional 425,461 shares during the last quarter. Mackenzie Financial Corp grew its position in Akamai Technologies by 2.3% in 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 during the last quarter. Earnest Partners LLC boosted its position in shares of Akamai Technologies by 2.7% during the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock valued at $211,935,000 after acquiring an additional 58,013 shares in the last quarter. Northern Trust Corp raised its stake in shares of Akamai Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock worth $178,085,000 after acquiring an additional 163,472 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Akamai Technologies by 16.4% during the first quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company's stock worth $85,434,000 after buying an additional 149,762 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 approximately $2,149,070. This represents a 9.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the completion of the sale, the executive vice president owned 32,349 shares of the company's stock, valued at $2,514,811.26. The trade was a 13.39% 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 in the last three months. 2.00% of the stock is owned by corporate insiders.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM traded up $1.03 during mid-day trading on Wednesday, hitting $77.97. 188,316 shares of the stock were exchanged, compared to its average volume of 2,385,951. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a market cap of $11.18 billion, a P/E ratio of 27.60, a PEG ratio of 2.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. The stock's fifty day simple moving average is $77.52 and its two-hundred day simple moving average is $79.46.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted $1.58 earnings per share. The firm's quarterly revenue 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. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. Raymond James Financial decreased their price objective 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 upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group upped their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group assumed coverage on Akamai Technologies in a research report on Wednesday, August 13th. They set a "sell" rating and a $67.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $94.89.

Akamai Technologies Company 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.