Nuveen LLC Acquires New Stake 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) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 145,303 shares of the technology infrastructure company's stock, valued at approximately $11,697,000. Nuveen LLC owned approximately 0.10% of Akamai Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Akamai Technologies by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock worth $1,503,205,000 after purchasing an additional 425,461 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Akamai Technologies by 234.0% in the first quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company's stock worth $47,943,000 after purchasing an additional 417,260 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 worth $28,476,000 after purchasing an additional 347,286 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Akamai Technologies in the first quarter worth about $21,626,000. Finally, GAMMA Investing LLC raised its stake in shares of Akamai Technologies by 5,951.4% in the first quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company's stock worth $20,445,000 after purchasing an additional 249,781 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Insiders Place Their Bets

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction 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 transaction, the chief technology officer owned 27,910 shares of the company's stock, valued at approximately $2,149,070. The trade was a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the business's 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 transaction, the executive vice president directly owned 21,211 shares in the company, valued at $1,606,945.36. This trade represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock valued at $922,740. Insiders own 2.00% of the company's stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded up $1.00 on Wednesday, reaching $77.94. The company's stock had a trading volume of 478,628 shares, compared to its average volume of 2,387,771. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $77.52 and a 200-day moving average price of $79.46. The company has a market capitalization of $11.18 billion, a P/E ratio of 27.64, a PEG ratio of 2.84 and a beta of 0.76. 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 released its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for 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%.The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AKAM. Piper Sandler reduced their price objective on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. KeyCorp started coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price target for the company. Zacks Research upgraded Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. The Goldman Sachs Group started coverage on Akamai Technologies in a research report on Wednesday, August 13th. They set a "sell" rating and a $67.00 price target for the company. Finally, 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. Two 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $94.89.

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.