Northeast Investment Management Cuts Stake in Akamai Technologies, Inc. $AKAM

Key Points

• Northeast Investment Management has reduced its stake in Akamai Technologies by 39.5%, owning 21,698 shares valued at approximately $1.73 million following the sale of 14,151 shares in Q2.
• Insider selling at Akamai includes two executives, with EVP Paul C. Joseph selling 5,000 shares for $383,250 and EVP Aaron Ahola selling 4,000 shares for $303,040, representing significant decreases in their ownership stakes.
• Analyst ratings for Akamai show a mixed outlook, with a consensus rating of "Hold" and an average target price of $93.58, alongside notable downgrades by firms like Morgan Stanley and Scotiabank.

Northeast Investment Management reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 39.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,698 shares of the technology infrastructure company's stock after selling 14,151 shares during the quarter. Northeast Investment Management's holdings in Akamai Technologies were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC purchased a new stake in Akamai Technologies during the 1st quarter valued at approximately $27,000. UMB Bank n.a. boosted its position in shares of Akamai Technologies by 50.8% during the 2nd quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock valued at $32,000 after acquiring an additional 133 shares during the last quarter. LRI Investments LLC boosted its position in shares of Akamai Technologies by 766.1% during the 2nd quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company's stock valued at $39,000 after acquiring an additional 429 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Akamai Technologies during the 1st quarter valued at approximately $42,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Akamai Technologies during the 1st quarter valued at approximately $49,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction on Monday, September 15th. The stock was sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the sale, the executive vice president directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total value of $303,040.00. Following the sale, the executive vice president owned 21,211 shares of the company's stock, 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. Over the last ninety days, insiders sold 12,000 shares of company stock worth $917,290. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

AKAM has been the subject of a number of research reports. DA Davidson reiterated a "buy" rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Thursday. Morgan Stanley downgraded Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price for the company. in a research report on Tuesday, August 5th. Scotiabank lowered their target price on Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a research report on Friday, August 8th. Zacks Research upgraded Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. Finally, Raymond James Financial lowered their target price on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $93.58.

Akamai Technologies Stock Down 0.1%

Shares of AKAM opened at $72.86 on Friday. The company has a market cap of $10.45 billion, a PE ratio of 25.84, a P/E/G ratio of 3.48 and a beta of 0.75. The business has a fifty day moving average of $76.20 and a 200 day moving average of $77.07. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week 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.

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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies's revenue was up 6.5% on a year-over-year basis. During the same period last year, the company 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. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS 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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