Akamai Technologies, Inc. $AKAM Shares Sold by Hsbc Holdings PLC

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

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after buying an additional 155 shares during the period. Itau Unibanco Holding S.A. grew its stake in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after buying an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Akamai Technologies during the first quarter worth approximately $49,000. LRI Investments LLC grew its stake in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after buying an additional 520 shares during the period. Finally, TruNorth Capital Management LLC purchased a new stake in Akamai Technologies during the first quarter worth approximately $65,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on AKAM shares. Zacks Research upgraded shares of Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. Scotiabank decreased their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a research note on Friday, August 8th. KeyCorp started coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Piper Sandler decreased their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Finally, Morgan Stanley downgraded shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price for the company. in a research note on Tuesday, August 5th. Two 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $94.89.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 21,211 shares in the company, valued at $1,606,945.36. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,157 shares of company stock valued at $1,927,014. Insiders own 2.00% of the company's stock.

Akamai Technologies Stock Up 1.7%

AKAM traded up $1.32 during trading on Friday, hitting $77.64. The company had a trading volume of 1,719,179 shares, compared to its average volume of 2,296,703. The company has a market cap of $11.13 billion, a PE ratio of 27.53, a P/E/G ratio of 2.88 and a beta of 0.76. The business has a 50-day moving average of $77.63 and a 200-day moving average of $79.64. 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 1-year low of $67.51 and a 1-year high of $106.80.

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