Groupama Asset Managment Cuts Position in Akamai Technologies, Inc. $AKAM

Key Points

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Groupama Asset Managment decreased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,003,516 shares of the technology infrastructure company's stock after selling 4,511 shares during the period. Akamai Technologies makes up approximately 1.3% of Groupama Asset Managment's holdings, making the stock its 17th largest holding. Groupama Asset Managment owned approximately 1.37% of Akamai Technologies worth $161,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Beverly Hills Private Wealth LLC raised its holdings in shares of Akamai Technologies by 4.7% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company's stock valued at $228,000 after buying an additional 126 shares in the last quarter. Opes Wealth Management LLC boosted its stake in Akamai Technologies by 2.7% in the first quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock worth $392,000 after buying an additional 128 shares in the last quarter. Amalgamated Bank grew its position in Akamai Technologies by 0.5% during the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock valued at $2,341,000 after acquiring an additional 139 shares during the last quarter. Horizon Investments LLC raised its stake in shares of Akamai Technologies by 7.2% during the first quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company's stock worth $179,000 after acquiring an additional 149 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised 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 worth $35,000 after acquiring an additional 155 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $388,700.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, the chief technology officer directly owned 27,910 shares of the company's stock, valued at $2,149,070. The trade was a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,157 shares of company stock valued at $1,927,014 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Trading Up 1.7%

Shares of NASDAQ:AKAM traded up $1.32 during midday 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 quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. The business's 50 day moving average is $77.63 and its two-hundred day moving average is $79.78. The stock has a market capitalization of $11.13 billion, a PE ratio of 27.53, a P/E/G ratio of 2.88 and a beta of 0.76. 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 quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for 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%.Akamai Technologies's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. The Goldman Sachs Group initiated coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They set a "sell" rating and a $67.00 price target for the company. 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 report on Friday, August 8th. Scotiabank lowered their target price on 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. Finally, KeyCorp assumed 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. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.