Gulf International Bank UK Ltd Cuts Position in Akamai Technologies, Inc. $AKAM

Key Points

• Gulf International Bank UK Ltd reduced its stake in Akamai Technologies by 42.7%, leaving it with 7,915 shares valued at approximately $637,000.
• Akamai Technologies reported a 6.5% year-over-year increase in revenue, with earnings per share of $1.73 for the last quarter, surpassing analysts' expectations.
• Institutional investors control 94.28% of Akamai's stock, with multiple firms, including Vanguard and First Trust, recently increasing their holdings.

Gulf International Bank UK Ltd decreased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 42.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,915 shares of the technology infrastructure company's stock after selling 5,887 shares during the quarter. Gulf International Bank UK Ltd's holdings in Akamai Technologies were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its position in shares of 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 valued at $35,000 after purchasing an additional 155 shares during the period. Itau Unibanco Holding S.A. boosted its position in Akamai Technologies by 99.6% during 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 last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Akamai Technologies during the first quarter worth about $49,000. LRI Investments LLC boosted its position in Akamai Technologies by 500.0% during 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 last quarter. Finally, TruNorth Capital Management LLC purchased a new position in Akamai Technologies during the first quarter worth about $65,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of analyst reports. Piper Sandler reduced their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. KeyCorp assumed coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They set an "underweight" rating and a $63.00 target price on the stock. Scotiabank lowered 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 report on Friday, August 8th. Raymond James Financial lowered their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They set a "sell" rating and a $67.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Akamai Technologies currently has a consensus rating of "Hold" and an average target price of $94.89.

Akamai Technologies Stock Performance

AKAM stock traded up $1.7640 on Friday, hitting $78.0840. The company's stock had a trading volume of 518,163 shares, compared to its average volume of 2,393,982. The firm has a 50 day moving average of $77.62 and a two-hundred day moving average of $80.08. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $106.80. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76. 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 (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Akamai Technologies'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. Equities analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the sale, the executive vice president owned 43,575 shares in the company, valued at $3,326,079.75. This represents a 23.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the completion of the sale, the executive vice president owned 21,211 shares of the company's stock, 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. Insiders sold a total of 22,157 shares of company stock worth $1,696,014 in the last 90 days. 2.00% of the stock is owned by insiders.

About Akamai Technologies

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.