BI Asset Management Fondsmaeglerselskab A S Sells 3,468 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its holdings in Akamai Technologies by 58.3%, now owning 2,484 shares valued at approximately $200,000.
• Institutional investors own approximately 94.28% of Akamai Technologies, indicating significant interest in the company.
• Akamai Technologies reported $1.73 earnings per share for the last quarter, exceeding analysts' expectations of $1.55, and generating revenue of $1.04 billion.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,484 shares of the technology infrastructure company's stock after selling 3,468 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Akamai Technologies were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after purchasing an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after purchasing an additional 234 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Akamai Technologies during the first quarter valued at approximately $49,000. LRI Investments LLC grew its holdings in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after purchasing an additional 520 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in Akamai Technologies during the first quarter valued at approximately $65,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AKAM shares. Morgan Stanley downgraded 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. Raymond James Financial cut their price objective on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a report on Friday, August 8th. UBS Group lifted their price target on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Scotiabank lowered their price objective on Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a research report on Friday, August 8th. Finally, The Goldman Sachs Group began coverage on Akamai Technologies in a research note on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $92.39.

Akamai Technologies Stock Performance

AKAM traded up $0.16 during trading hours on Friday, reaching $78.55. The company's stock had a trading volume of 173,825 shares, compared to its average volume of 2,371,333. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company's 50-day moving average is $77.51 and its 200-day moving average is $79.29. 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 cap of $11.26 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted $1.58 EPS. The company's revenue for the quarter 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. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction 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 sale, the chief technology officer directly owned 27,910 shares of the company's stock, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $303,040.00. Following the sale, the executive vice president directly 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 three months, insiders have sold 12,000 shares of company stock valued at $922,740. 2.00% of the stock is owned by corporate insiders.

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.