Lmcg Investments LLC Purchases 5,536 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Lmcg Investments LLC increased its stake in Akamai Technologies by 6.2%, owning 95,071 shares valued at approximately $7.58 million.
• Several large institutional investors significantly raised positions in Akamai, with Alyeska Investment Group increasing its stake by 1,001.4% during the first quarter.
• Akamai Technologies reported a quarterly earnings of $1.73 per share, exceeding analysts' expectations of $1.55, while its revenue also surpassed estimates at $1.04 billion.

Lmcg Investments LLC lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,071 shares of the technology infrastructure company's stock after purchasing an additional 5,536 shares during the quarter. Lmcg Investments LLC owned about 0.07% of Akamai Technologies worth $7,583,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AKAM. Alyeska Investment Group L.P. raised its position in Akamai Technologies by 1,001.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company's stock valued at $141,149,000 after purchasing an additional 1,594,206 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Akamai Technologies by 1,663.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company's stock valued at $81,927,000 after purchasing an additional 968,919 shares during the period. Vontobel Holding Ltd. raised its position in Akamai Technologies by 147.0% during the second quarter. Vontobel Holding Ltd. now owns 1,471,281 shares of the technology infrastructure company's stock valued at $117,349,000 after purchasing an additional 875,712 shares during the period. Vanguard Group Inc. raised its position in 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 purchasing an additional 425,461 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Akamai Technologies by 5,385.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,734 shares of the technology infrastructure company's stock valued at $28,476,000 after purchasing an additional 347,286 shares during the period. 94.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AKAM shares. Scotiabank decreased their price objective on Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a research report on Friday, August 8th. Weiss Ratings lowered Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. Wall Street Zen upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research upgraded Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. Finally, Piper Sandler dropped their target price on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of "Hold" and an average target price of $92.39.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, the chief technology officer owned 27,910 shares in the company, valued at approximately $2,149,070. The trade was a 9.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value 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 $1,606,945.36. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,000 shares of company stock worth $1,305,990. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Down 3.0%

Shares of NASDAQ AKAM opened at $73.24 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.61 and a beta of 0.75. The stock has a 50 day moving average price of $76.23 and a 200 day moving average price of $77.35. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business 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. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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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