Swedbank AB Sells 10,619 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Swedbank AB reduced its holdings in Akamai Technologies by 11.5% in Q1, owning 81,758 shares valued at approximately $6.58 million after the sale.
• Analysts have provided mixed ratings on Akamai, with one downgrade to "underweight" from Morgan Stanley, while Wall Street Zen upgraded the stock to "buy", influencing a consensus rating of "Hold" with a target price of $92.39.
• Insider trades revealed significant sales, with two executives selling a combined 9,000 shares recently, marking 15% decreases in their respective positions.

Swedbank AB lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 11.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,758 shares of the technology infrastructure company's stock after selling 10,619 shares during the quarter. Swedbank AB owned about 0.06% of Akamai Technologies worth $6,582,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 valued at $1,503,205,000 after acquiring an additional 425,461 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in shares of 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 during the last quarter. Mackenzie Financial Corp raised its position in shares of 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 during the last quarter. Alyeska Investment Group L.P. raised its position in shares of 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 during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AKAM. The Goldman Sachs Group started coverage on Akamai Technologies in a report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target for the company. Scotiabank cut 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. Piper Sandler cut their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a research note on Tuesday, August 5th. Finally, Raymond James Financial decreased their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a report on Friday, August 8th. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.39.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction 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 sale, the chief technology officer directly owned 27,910 shares in the company, valued at approximately $2,149,070. This trade represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was 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 owned 21,211 shares in the company, 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. Over the last 90 days, insiders sold 17,000 shares of company stock valued at $1,305,990. Corporate insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM traded down $0.81 on Friday, hitting $76.28. 7,140,411 shares of the company were exchanged, compared to its average volume of 1,598,527. The company's 50 day moving average price is $76.90 and its two-hundred day moving average price is $77.96. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. 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 firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.71 and a beta of 0.77.

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

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.