Intech Investment Management LLC decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in Akamai Technologies during the first quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised its stake 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 acquiring an additional 155 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Akamai Technologies in the first quarter valued at approximately $42,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Akamai Technologies in the first quarter valued at approximately $49,000. Finally, Quarry LP raised its stake in shares of Akamai Technologies by 623.3% in the first quarter. Quarry LP now owns 622 shares of the technology infrastructure company's stock valued at $50,000 after acquiring an additional 536 shares during the last quarter. Institutional investors own 94.28% of the company's stock.
Insiders Place Their Bets
In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies 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. The trade was a 15.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total transaction of $231,000.00. Following the sale, the chief technology officer directly owned 27,910 shares of the company's stock, valued at $2,149,070. This represents a 9.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,000 shares of company stock valued at $1,305,990. Company insiders own 2.00% of the company's stock.
Akamai Technologies Trading Down 1.1%
AKAM stock traded down $0.81 during trading on Friday, hitting $76.28. The company had a trading volume of 7,140,411 shares, compared to its average volume of 1,598,527. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $76.90 and a 200-day moving average price of $77.96. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.71 and a beta of 0.77.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, topping 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 analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company posted $1.58 EPS. 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. As a group, analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on AKAM shares. KeyCorp started coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Piper Sandler cut their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Zacks Research upgraded shares of Akamai Technologies to a "hold" rating in a research note on Monday, August 11th. The Goldman Sachs Group started coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They issued a "sell" rating and a $67.00 target price for the company. Finally, Raymond James Financial cut their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One investment 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 stock. According to data from MarketBeat, Akamai Technologies has a consensus rating of "Hold" and an average target price of $92.39.
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About Akamai Technologies
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Free Report)
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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