Ilmarinen Mutual Pension Insurance Co Acquires New Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Ilmarinen Mutual Pension Insurance Co has acquired a new position in Akamai Technologies by purchasing 25,000 shares valued at approximately $2,013,000.
• Despite recent upgrades by some brokerages, the target price for Akamai's stock has seen adjustments, with Raymond James reducing their target from $110.00 to $84.00.
• Akamai Technologies reported quarterly earnings of $1.73 per share, exceeding analysts' expectations and demonstrating a revenue increase of 6.5% compared to the same quarter last year.

Ilmarinen Mutual Pension Insurance Co purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,000 shares of the technology infrastructure company's stock, valued at approximately $2,013,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. grew its holdings in shares of Akamai Technologies by 97.4% in the 1st quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock worth $99,000 after acquiring an additional 604 shares during the period. Amalgamated Bank lifted its stake in Akamai Technologies by 0.5% in the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock valued at $2,341,000 after buying an additional 139 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in Akamai Technologies in the 1st quarter valued at approximately $311,000. QRG Capital Management Inc. lifted its stake in Akamai Technologies by 2.9% in the 1st quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company's stock valued at $588,000 after buying an additional 208 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Akamai Technologies by 595.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,614 shares of the technology infrastructure company's stock valued at $130,000 after buying an additional 1,382 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Stock Performance

NASDAQ AKAM traded down $0.25 during trading hours on Tuesday, reaching $76.21. The company's stock had a trading volume of 274,434 shares, compared to its average volume of 2,330,844. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. The business has a 50-day simple moving average of $77.15 and a 200 day simple moving average of $78.05. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The stock has a market cap of $10.93 billion, a PE ratio of 27.01, a PEG ratio of 3.69 and a beta of 0.77.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the company posted $1.58 earnings per share. Akamai Technologies's revenue 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 research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the transaction, the executive vice president owned 27,349 shares in the company, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,000 shares of company stock worth $1,305,990. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AKAM shares. Piper Sandler reduced their target price 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. KeyCorp started coverage on Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price on the stock. Morgan Stanley lowered Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price on the stock. in a research note on Tuesday, August 5th. Raymond James Financial reduced their price target on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Zacks Research raised Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. One equities 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $92.39.

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.