Nuveen LLC Takes $11.70 Million Position in Akamai Technologies, Inc. $AKAM

Key Points

• Nuveen LLC invested approximately $11.70 million in Akamai Technologies during the first quarter, acquiring 145,303 shares, which represents a 0.10% ownership in the company.
• Several institutional investors, including Connor Clark & Lunn Investment Management Ltd., significantly increased their stakes in Akamai, highlighting growing institutional interest in the company.
• Akamai Technologies reported a quarterly EPS of $1.73, exceeding expectations, and projected FY 2025 guidance between 6.600-6.800 EPS, indicating optimistic future growth.

Nuveen LLC purchased a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 145,303 shares of the technology infrastructure company's stock, valued at approximately $11,697,000. Nuveen LLC owned 0.10% of Akamai Technologies as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in shares of Akamai Technologies by 30.6% during the first quarter. Covestor Ltd now owns 1,237 shares of the technology infrastructure company's stock valued at $100,000 after purchasing an additional 290 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Akamai Technologies by 5,385.9% in 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 acquiring an additional 347,286 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Akamai Technologies by 9.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 259,639 shares of the technology infrastructure company's stock valued at $20,901,000 after acquiring an additional 21,499 shares during the period. Headlands Technologies LLC purchased a new stake in Akamai Technologies in the first quarter worth about $1,249,000. Finally, Charles Schwab Investment Management Inc. increased its position in Akamai Technologies by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 940,681 shares of the technology infrastructure company's stock worth $75,725,000 after buying an additional 18,437 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AKAM has been the subject of a number of analyst reports. UBS Group upped their price target on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Raymond James Financial reduced their price target 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. Zacks Research upgraded Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. Scotiabank reduced their price target 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. Finally, KeyCorp initiated coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $94.89.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the transaction, the chief technology officer directly owned 27,910 shares of the company's stock, valued at approximately $2,149,070. This represents a 9.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the transaction, the executive vice president directly owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock valued at $922,740. Insiders own 2.00% of the company's stock.

Akamai Technologies Price Performance

Akamai Technologies stock traded up $0.12 during midday trading on Thursday, reaching $78.39. 1,292,548 shares of the stock traded hands, compared to its average volume of 2,348,108. The stock's fifty day moving average is $77.51 and its 200-day moving average is $79.29. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The stock has a market cap of $11.24 billion, a P/E ratio of 27.80, a PEG ratio of 3.82 and a beta of 0.76. 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 announced its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Akamai Technologies Company 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.