Korea Investment CORP Boosts Position in Akamai Technologies, Inc. $AKAM

Key Points

• Korea Investment CORP increased its stake in Akamai Technologies by 64.1%, owning 63,254 shares valued at approximately $5.09 million after purchasing an additional 24,700 shares in the first quarter.
• Analysts have mixed views on Akamai, with Morgan Stanley downgrading the stock to "underweight" with an $85.00 target, while Wall Street Zen upgraded it to a "buy" rating.
• Akamai Technologies reported quarterly earnings of $1.73 per share, outperforming analysts' expectations of $1.55, and had a revenue of $1.04 billion, reflecting a 6.5% year-over-year growth.

Korea Investment CORP raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,254 shares of the technology infrastructure company's stock after buying an additional 24,700 shares during the quarter. Korea Investment CORP's holdings in Akamai Technologies were worth $5,092,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Akamai Technologies by 2.3% during the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock valued at $1,503,205,000 after buying an additional 425,461 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Akamai Technologies by 2.3% during the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock valued at $199,961,000 after buying an additional 56,411 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Akamai Technologies by 2.7% during the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company's stock valued at $211,935,000 after buying an additional 58,013 shares during the last quarter. Northern Trust Corp lifted its position in shares of Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock valued at $178,085,000 after buying an additional 163,472 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Akamai Technologies by 16.4% during the first quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company's stock valued at $85,434,000 after buying an additional 149,762 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total transaction of $388,700.00. Following the completion of the transaction, the executive vice president directly owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the transaction, the executive vice president directly owned 21,211 shares of the company's stock, valued at $1,606,945.36. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,000 shares of company stock valued at $922,740. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Down 0.4%

Shares of AKAM traded down $0.27 during mid-day trading on Thursday, hitting $78.00. 335,301 shares of the company traded hands, compared to its average volume of 2,378,846. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.80. 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 company has a market capitalization of $11.18 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 3.76 and a beta of 0.76. The business has a 50 day moving average of $77.52 and a 200 day moving average of $79.45.

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 (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 company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $1.58 EPS. 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 research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They set a "sell" rating and a $67.00 price target for the company. KeyCorp assumed coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price target for the company. Raymond James Financial decreased their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Piper Sandler cut their price objective on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, Akamai Technologies has an average rating of "Hold" and an average price target of $94.89.

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.