Earnest Partners LLC Sells 33,297 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Earnest Partners LLC reduced its stake in Akamai Technologies by 1.5% in Q1, maintaining ownership of 2,182,438 shares worth approximately $175.7 million after selling 33,297 shares.
• Insiders sold a total of 12,000 shares of Akamai stock in the past three months, with notable sales from CTO Robert Blumofe and EVP Aaron Ahola, reflecting significant decreases in their respective ownership positions.
• Akamai Technologies reported earnings per share of $1.73 for the last quarter, surpassing analysts' expectations, and has an estimated FY 2025 guidance of 6.600-6.800 EPS.

Earnest Partners LLC trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,182,438 shares of the technology infrastructure company's stock after selling 33,297 shares during the quarter. Earnest Partners LLC owned approximately 1.49% of Akamai Technologies worth $175,686,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AKAM. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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. AlphaQuest LLC acquired a new position in shares of Akamai Technologies in the first quarter worth approximately $42,000. Itau Unibanco Holding S.A. lifted its stake in shares of 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 acquiring an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Akamai Technologies in the first quarter worth approximately $49,000. Finally, LRI Investments LLC lifted its stake in shares of Akamai Technologies by 500.0% in the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. 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 research note on Friday, August 8th. The Goldman Sachs Group assumed 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. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Scotiabank cut their price objective on Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley lowered 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $92.39.

Insider Activity

In other news, EVP Paul C. Joseph sold 5,000 shares of the business'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 transaction of $388,700.00. Following the completion of the sale, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $922,740 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Trading Up 0.9%

AKAM stock traded up $0.74 during mid-day trading on Friday, reaching $79.13. The company's stock had a trading volume of 1,176,468 shares, compared to its average volume of 2,326,352. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 3.86 and a beta of 0.76. The business's 50 day moving average price is $77.52 and its 200 day moving average price is $78.98. The company has a current ratio of 2.31, a quick 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 issued its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share 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 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 firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous 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. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.