Nordea Investment Management AB Sells 30,213 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Nordea Investment Management AB reduced its stake in Akamai Technologies by 1.2%, selling 30,213 shares in the second quarter, leaving it with approximately $196.5 million worth of stock.
• Multiple institutional investors have increased their positions in Akamai, with notable boosts from Generali Asset Management (17.4%) and Sequoia Financial Advisors (68.8%) during the same period.
• Akamai Technologies recently reported earnings of $1.73 per share, exceeding analysts' expectations, and projects 4.6 earnings per share for the current year with growth guidance set for FY 2025.

Nordea Investment Management AB cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,456,506 shares of the technology infrastructure company's stock after selling 30,213 shares during the quarter. Nordea Investment Management AB owned 1.68% of Akamai Technologies worth $196,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mutual Advisors LLC grew its holdings in shares of Akamai Technologies by 4.0% during the 2nd quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company's stock valued at $372,000 after purchasing an additional 177 shares during the last quarter. Generali Asset Management SPA SGR boosted its position in Akamai Technologies by 17.4% during the 2nd quarter. Generali Asset Management SPA SGR now owns 11,658 shares of the technology infrastructure company's stock worth $930,000 after buying an additional 1,732 shares during the period. Boston Trust Walden Corp boosted its position in Akamai Technologies by 7.5% during the 2nd quarter. Boston Trust Walden Corp now owns 353,555 shares of the technology infrastructure company's stock worth $28,200,000 after buying an additional 24,568 shares during the period. Cascade Investment Advisors Inc. boosted its position in Akamai Technologies by 7.6% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 16,237 shares of the technology infrastructure company's stock worth $1,295,000 after buying an additional 1,145 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Akamai Technologies by 68.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,365 shares of the technology infrastructure company's stock worth $667,000 after buying an additional 3,409 shares during the period. 94.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several recent research reports. Scotiabank cut their target price on shares of 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 downgraded shares of Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 8th. Raymond James Financial cut their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, The Goldman Sachs Group began coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $93.58.

Akamai Technologies Stock Down 0.1%

Shares of NASDAQ AKAM opened at $72.86 on Friday. The company has a market capitalization of $10.45 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 3.49 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 $76.20 and its 200-day moving average price is $77.10.

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 Activity at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the business's 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 transaction, the executive vice president owned 21,211 shares in the company, valued at $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 available at the SEC website. 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 transaction of $383,250.00. Following the transaction, the executive vice president owned 27,349 shares in the company, valued at $2,096,300.85. The trade was a 15.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $917,290 in the last quarter. Company insiders own 2.00% of the company's stock.

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.

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report).

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.