Mirae Asset Global Investments Co. Ltd. Has $2.25 Million Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Akamai Technologies by 24.6%, owning 28,236 shares worth approximately $2.25 million.
• Akamai reported earnings per share (EPS) of $1.73 for the most recent quarter, exceeding analysts' expectations of $1.55, with revenues of $1.04 billion.
• Analysts have mixed ratings on Akamai's stock, with one upgrade to a "buy" rating and a consensus target price of approximately $92.39.

Mirae Asset Global Investments Co. Ltd. raised its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 24.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,236 shares of the technology infrastructure company's stock after acquiring an additional 5,575 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Akamai Technologies were worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AKAM. Vanguard Group Inc. boosted its stake in Akamai Technologies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock worth $1,503,205,000 after acquiring an additional 425,461 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Akamai Technologies by 6.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company's stock worth $200,015,000 after buying an additional 160,665 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Akamai Technologies by 2.3% in 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 purchasing an additional 56,411 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Akamai Technologies by 1,001.4% in 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 last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Akamai Technologies by 16.4% in 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 purchasing an additional 149,762 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Stock Up 0.2%

Shares of NASDAQ AKAM opened at $76.72 on Thursday. The company has a market capitalization of $11.00 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 3.66 and a beta of 0.75. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. 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 company's 50 day moving average price is $76.27 and its 200-day moving average price is $77.46.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued 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. The firm 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%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 EPS. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. Equities analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the sale, the executive vice president directly owned 21,211 shares in the company, valued at approximately $1,606,945.36. This trade 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 have sold 17,000 shares of company stock valued at $1,305,990. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AKAM shares. Weiss Ratings downgraded shares of Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Piper Sandler lowered their target price 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. Raymond James Financial lowered their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Zacks Research upgraded shares of Akamai Technologies to a "hold" rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $92.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.