Inspire Investing LLC Purchases New Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Inspire Investing LLC purchased 3,888 shares of Akamai Technologies, aggregating to approximately $313,000, indicating strong institutional interest in the company's stock.
• Several other institutional investors have also recently increased their holdings in Akamai, with hedge funds collectively owning 94.28% of the company's stock.
• Akamai Technologies reported earnings of $1.73 per share for the last quarter, exceeding analyst expectations, with a 6.5% year-over-year revenue growth.

Inspire Investing LLC purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,888 shares of the technology infrastructure company's stock, valued at approximately $313,000.

Several other large investors have also modified their holdings of the business. Ransom Advisory Ltd acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $507,000. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $2,013,000. Bayforest Capital Ltd acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $108,000. Optimize Financial Inc acquired a new stake in shares of Akamai Technologies in the first quarter valued at approximately $1,820,000. Finally, Woodline Partners LP grew its position in shares of Akamai Technologies by 3,783.0% in the first quarter. Woodline Partners LP now owns 186,036 shares of the technology infrastructure company's stock valued at $14,976,000 after purchasing an additional 181,245 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Robert Blumofe sold 3,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $2,149,070. This trade represents a 9.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction on Monday, September 15th. The shares were 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 directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. This represents a 15.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,000 shares of company stock valued at $1,305,990. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several research reports. KeyCorp began coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target on the stock. Morgan Stanley downgraded shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a research note on Tuesday, August 5th. Zacks Research raised shares of Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They set a "sell" rating and a $67.00 price objective on the stock. Finally, Raymond James Financial reduced their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $92.39.

Akamai Technologies Trading Down 1.1%

NASDAQ:AKAM traded down $0.81 during trading hours on Friday, reaching $76.28. 7,140,411 shares of the company were exchanged, compared to its average volume of 1,869,592. 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 market cap of $10.94 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.67 and a beta of 0.77. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The stock has a 50 day simple moving average of $76.90 and a 200 day simple moving average of $77.89.

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. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. Akamai Technologies's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. 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, analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.