Akamai Technologies, Inc. $AKAM Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Akamai Technologies by 22.1% in the first quarter, resulting in ownership of 47,559 shares valued at approximately $3.83 million.
• Several institutional investors, including Beverly Hills Private Wealth LLC and Opes Wealth Management LLC, have increased their stakes in Akamai Technologies, which is predominantly owned by institutional investors at 94.28%.
• Akamai Technologies reported an earnings per share (EPS) of $1.73 for the last quarter, exceeding analyst expectations, and set a FY 2025 guidance of 6.600-6.800 EPS.

Rafferty Asset Management LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,559 shares of the technology infrastructure company's stock after selling 13,476 shares during the period. Rafferty Asset Management LLC's holdings in Akamai Technologies were worth $3,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in Akamai Technologies by 97.4% during the first quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock worth $99,000 after buying an additional 604 shares in the last quarter. Amalgamated Bank boosted its holdings in Akamai Technologies by 0.5% during the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after buying an additional 139 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Akamai Technologies by 2.9% during the first quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company's stock worth $588,000 after buying an additional 208 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 595.7% during the first quarter. Farther Finance Advisors LLC now owns 1,614 shares of the technology infrastructure company's stock worth $130,000 after buying an additional 1,382 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Akamai Technologies by 2.6% during the first quarter. Asset Management One Co. Ltd. now owns 60,508 shares of the technology infrastructure company's stock worth $4,871,000 after buying an additional 1,550 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Activity at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 21,211 shares of the company's stock, valued at approximately $1,606,945.36. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $231,000.00. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock valued at $922,740. Company insiders own 2.00% of the company's stock.

Akamai Technologies Trading Down 0.5%

Shares of AKAM traded down $0.37 on Thursday, hitting $77.19. 2,696,187 shares of the stock traded hands, compared to its average volume of 2,098,688. 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 has a market capitalization of $11.07 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.79 and a beta of 0.77. The stock's 50 day moving average is $77.37 and its two-hundred day moving average is $78.52. 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 announced its quarterly earnings data 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm 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, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research analyst reports. Scotiabank decreased their price objective on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday, August 8th. Raymond James Financial reduced their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Zacks Research raised shares of Akamai Technologies to a "hold" rating in a report on Monday, August 11th. UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Morgan Stanley downgraded shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target on the stock. in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of "Hold" and a consensus target price of $92.39.

Akamai Technologies 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.