APG Asset Management N.V. decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,460 shares of the technology infrastructure company's stock after selling 24,198 shares during the period. APG Asset Management N.V. owned about 0.15% of Akamai Technologies worth $15,982,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AKAM. Vanguard Group Inc. increased 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 valued at $1,503,205,000 after acquiring an additional 425,461 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Akamai Technologies by 234.0% during the 1st quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company's stock valued at $47,943,000 after acquiring an additional 417,260 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Akamai Technologies by 5,385.9% in 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 purchasing an additional 347,286 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new stake in Akamai Technologies in the 1st quarter worth $21,929,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Akamai Technologies during the first quarter worth about $21,626,000. 94.28% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on AKAM. The Goldman Sachs Group assumed coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target on the stock. Piper Sandler decreased their price target on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. KeyCorp assumed coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective for the company. Raymond James Financial decreased their target price on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Scotiabank decreased their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $94.89.
Read Our Latest Stock Report on Akamai Technologies
Akamai Technologies Stock Performance
AKAM stock traded up $0.12 during trading on Thursday, reaching $78.39. The company had a trading volume of 1,292,548 shares, compared to its average volume of 2,384,897. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.76. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month 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 50-day simple moving average of $77.52 and a 200-day simple moving average of $79.45.
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, topping analysts' consensus estimates of $1.55 by $0.18. The business had revenue of $1.04 billion during 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 business's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last 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, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.
Insider Buying and Selling at Akamai Technologies
In related news, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. This represents a 13.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,000 shares of company stock worth $922,740. 2.00% of the stock is currently owned by insiders.
About Akamai Technologies
(
Free Report)
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.
See Also
Before you consider Akamai Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Akamai Technologies wasn't on the list.
While Akamai Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
MarketBeat All Access