Intech Investment Management LLC Lowers Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Intech Investment Management LLC reduced its stake in Akamai Technologies by 20.9%, now holding 35,450 shares valued at approximately $2.85 million.
• Insider selling has occurred with CTO Robert Blumofe selling 3,000 shares and EVP Aaron Ahola selling 4,000 shares, indicating a significant decline in their ownership.
• Akamai's latest earnings report showed a 6.5% increase in revenue year-over-year, with earnings per share of $1.73, exceeding analyst expectations.

Intech Investment Management LLC decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,450 shares of the technology infrastructure company's stock after selling 9,344 shares during the period. Intech Investment Management LLC's holdings in Akamai Technologies were worth $2,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ransom Advisory Ltd bought a new stake in Akamai Technologies during the 1st quarter worth about $507,000. Ilmarinen Mutual Pension Insurance Co bought a new stake in Akamai Technologies during the 1st quarter worth about $2,013,000. Bayforest Capital Ltd bought a new stake in Akamai Technologies during the 1st quarter worth about $108,000. Optimize Financial Inc bought a new stake in shares of Akamai Technologies in the 1st quarter valued at about $1,820,000. Finally, Woodline Partners LP increased its stake in shares of Akamai Technologies by 3,783.0% in the 1st quarter. Woodline Partners LP now owns 186,036 shares of the technology infrastructure company's stock valued at $14,976,000 after acquiring an additional 181,245 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Insider Activity

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction on 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. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $76.65, for a total value of $383,250.00. Following the sale, the executive vice president owned 27,349 shares in the company, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,000 shares of company stock worth $1,305,990 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Akamai Technologies Price Performance

NASDAQ:AKAM traded down $0.08 during trading hours on Tuesday, hitting $76.38. The company's stock had a trading volume of 1,188,151 shares, compared to its average volume of 1,600,383. The stock has a fifty day simple moving average of $77.07 and a 200-day simple moving average of $78.04. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a market capitalization of $10.95 billion, a P/E ratio of 27.09, a PEG ratio of 3.68 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.04 billion during 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%.The firm's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $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. On average, analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on AKAM shares. Piper Sandler lowered their price target on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company 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 price target for the company. Scotiabank lowered their price target 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. Morgan Stanley cut Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target for the company. in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group started coverage on Akamai Technologies in a research note on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of "Hold" and an average target price of $92.39.

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.