Akamai Technologies, Inc. $AKAM Shares Purchased by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP significantly increased its stake in Akamai Technologies by 91.6% during the first quarter, now holding approximately 647,665 shares.
• Akamai Technologies reported earnings per share (EPS) of $1.73 for the latest quarter, exceeding analyst estimates of $1.55 and achieving a 6.5% year-over-year revenue growth.
• The stock's performance is closely watched, with an average rating of "Hold" from analysts and a consensus price target of $92.39.

Invenomic Capital Management LP lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 91.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 647,665 shares of the technology infrastructure company's stock after acquiring an additional 309,576 shares during the period. Akamai Technologies accounts for approximately 2.6% of Invenomic Capital Management LP's portfolio, making the stock its 2nd biggest holding. Invenomic Capital Management LP owned 0.44% of Akamai Technologies worth $52,137,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Alyeska Investment Group L.P. lifted its position in Akamai Technologies by 1,001.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company's stock worth $141,149,000 after buying an additional 1,594,206 shares during the period. Vanguard Group Inc. lifted its position in 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 buying an additional 425,461 shares during the period. Vontobel Holding Ltd. lifted its position in Akamai Technologies by 234.0% during the first quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company's stock worth $47,943,000 after buying an additional 417,260 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Akamai Technologies by 5,385.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,734 shares of the technology infrastructure company's stock worth $28,476,000 after buying an additional 347,286 shares during the period. Finally, GMT Capital Corp purchased a new position in Akamai Technologies during the first quarter worth about $27,636,000. Institutional investors and hedge funds own 94.28% of the company's stock.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the firm's 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 sale, the chief technology officer owned 27,910 shares in the company, valued at $2,149,070. This trade represents a 9.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the firm'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 value of $303,040.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,000 shares of company stock worth $922,740. 2.00% of the stock is currently owned by company insiders.

Akamai Technologies Stock Down 0.9%

Shares of NASDAQ:AKAM traded down $0.72 during mid-day trading on Tuesday, hitting $78.16. 1,518,800 shares of the company traded hands, compared to its average volume of 2,359,164. The firm has a market cap of $11.21 billion, a P/E ratio of 27.72, a PEG ratio of 3.81 and a beta of 0.77. 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 52-week low of $67.51 and a 52-week high of $106.80. The firm's 50 day simple moving average is $77.33 and its 200 day simple moving average is $78.10.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 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 return on equity of 14.26% and a net margin of 10.40%.The company's revenue was up 6.5% on a year-over-year basis. During the same period last year, the business 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. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AKAM. Morgan Stanley downgraded Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price on the stock. in a research report on Tuesday, August 5th. 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 objective on the stock. KeyCorp started coverage on Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective on the stock. Raymond James Financial cut their price objective on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Piper Sandler cut their price objective on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.