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

Other institutional investors have also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC boosted its position in Akamai Technologies by 4.7% in the first 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 holdings in shares of Akamai Technologies by 2.7% in the 1st quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock worth $392,000 after acquiring an additional 128 shares in the last quarter. Amalgamated Bank grew its position in Akamai Technologies by 0.5% during the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after acquiring an additional 139 shares during the last quarter. Horizon Investments LLC increased its holdings in Akamai Technologies by 7.2% during the 1st quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company's stock valued at $179,000 after purchasing an additional 149 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Akamai Technologies by 54.8% in the 1st 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 last quarter. 94.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AKAM. Raymond James Financial decreased their target price on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. KeyCorp initiated coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective for the company. Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price on the stock. in a research report on Tuesday, August 5th. Finally, Piper Sandler decreased their price target 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. One research analyst has 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 company's stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of "Hold" and an average price target of $92.39.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $76.75 on Thursday. The company has a market cap of $11.01 billion, a PE ratio of 27.22, a PEG ratio of 3.79 and a beta of 0.77. 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 1 year low of $67.51 and a 1 year high of $106.80. The company's 50-day moving average is $77.25 and its two-hundred day moving average is $78.09.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly 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. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. Akamai Technologies's revenue for the quarter was up 6.5% compared to the same quarter last year. 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 anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In other Akamai Technologies 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 value of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares of the company's stock, valued at approximately $1,606,945.36. This represents 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 the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was 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 approximately $2,149,070. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $922,740 in the last 90 days. 2.00% of the stock is owned by company insiders.

Akamai Technologies 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.

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