343,300 Shares in Akamai Technologies, Inc. $AKAM Acquired by GMT Capital Corp

Key Points

• GMT Capital Corp has acquired a new position in Akamai Technologies, purchasing 343,300 shares valued at approximately $27.6 million, making it the firm's 21st largest holding.
• Akamai Technologies reported a quarterly earnings per share (EPS) of $1.73, exceeding analysts' expectations, with revenue of $1.04 billion, which is up 6.5% compared to the previous year.
• Hedge funds and institutional investors collectively own 94.28% of Akamai Technologies' stock, indicating strong institutional interest in the company's performance.

GMT Capital Corp purchased a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 343,300 shares of the technology infrastructure company's stock, valued at approximately $27,636,000. Akamai Technologies makes up approximately 1.5% of GMT Capital Corp's holdings, making the stock its 21st biggest holding. GMT Capital Corp owned 0.23% of Akamai Technologies at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AKAM. WPG Advisers LLC purchased a new position in Akamai Technologies in the first quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Akamai Technologies by 54.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after purchasing an additional 155 shares during the last quarter. AlphaQuest LLC purchased a new position in Akamai Technologies in the first quarter worth $42,000. Itau Unibanco Holding S.A. boosted its position 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 during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Akamai Technologies in the first quarter worth $49,000. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

NASDAQ AKAM traded up $0.58 during trading on Wednesday, reaching $77.56. The company's stock had a trading volume of 1,494,044 shares, compared to its average volume of 2,363,954. The stock has a market capitalization of $11.12 billion, a PE ratio of 27.50, a P/E/G ratio of 3.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a fifty day moving average of $77.46 and a 200 day moving average of $78.68. Akamai Technologies, Inc. has a one year low of $67.51 and a one year 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $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. Analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AKAM shares. 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 research report on Friday, August 8th. Morgan Stanley cut Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target on the stock. in a research report on Tuesday, August 5th. Piper Sandler dropped their price target on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Zacks Research raised Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. Finally, KeyCorp started coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price target on the stock. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $92.39.

Insider Activity

In other news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the transaction, the executive vice president directly owned 21,211 shares in the company, valued at approximately $1,606,945.36. This represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the transaction, 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 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 worth $922,740. 2.00% of the stock is currently owned by insiders.

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.