Stoneridge Investment Partners LLC Increases Stock Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Stoneridge Investment Partners LLC raised its stake in Akamai Technologies by 395.6% in the first quarter, owning 14,557 shares worth approximately $1.17 million.
• Several institutional investors increased their holdings in Akamai, indicating strong confidence in the company's future, with institutional ownership reaching 94.28%.
• Akamai Technologies reported $1.73 EPS in its latest quarterly earnings, exceeding analysts' expectations of $1.55, and had a year-over-year revenue increase of 6.5%.

Stoneridge Investment Partners LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 395.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,557 shares of the technology infrastructure company's stock after buying an additional 11,620 shares during the period. Stoneridge Investment Partners LLC's holdings in Akamai Technologies were worth $1,172,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Credit Agricole S A lifted its holdings in Akamai Technologies by 21.3% in the first quarter. Credit Agricole S A now owns 61,647 shares of the technology infrastructure company's stock valued at $4,963,000 after acquiring an additional 10,833 shares during the period. Van Lanschot Kempen Investment Management N.V. bought a new position in Akamai Technologies in the first quarter valued at about $21,929,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Akamai Technologies by 82.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 38,679 shares of the technology infrastructure company's stock valued at $3,114,000 after acquiring an additional 17,522 shares during the period. Quantbot Technologies LP bought a new position in Akamai Technologies in the first quarter valued at about $831,000. Finally, Korea Investment CORP lifted its holdings in Akamai Technologies by 64.1% in the first quarter. Korea Investment CORP now owns 63,254 shares of the technology infrastructure company's stock valued at $5,092,000 after acquiring an additional 24,700 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total value of $388,700.00. Following the completion of the transaction, the executive vice president directly owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their position. 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 business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total value of $303,040.00. Following the transaction, 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. In the last quarter, insiders sold 25,157 shares of company stock valued at $1,927,014. Company insiders own 2.00% of the company's stock.

Akamai Technologies Price Performance

NASDAQ AKAM traded up $1.32 during trading on Friday, hitting $77.64. 1,719,179 shares of the stock traded hands, compared to its average volume of 2,324,997. The company has a market capitalization of $11.13 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76. The firm has a 50-day simple moving average of $77.63 and a 200-day simple moving average of $79.93. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.

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, topping analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company'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 predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Upgrades and Downgrades

AKAM has been the topic of several recent research reports. Zacks Research raised Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. Piper Sandler decreased their price objective on 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 downgraded 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. The Goldman Sachs Group initiated coverage on Akamai Technologies in a research note on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price objective on the stock. Finally, 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. Two investment analysts have 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 company. According to MarketBeat.com, the company has a consensus 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.