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

Key Points

• Praxis Investment Management Inc. reduced its stake in Akamai Technologies by 52.6%, leaving it with 4,260 shares valued at approximately $340,000.
• Insider transactions included EVP Aaron Ahola and CTO Robert Blumofe selling a combined total of 7,000 shares, reflecting a decrease in their ownership positions.
• Akamai Technologies reported a 6.5% increase in quarterly revenue year-over-year, with an earnings per share (EPS) of $1.73, exceeding analysts' expectations.

Praxis Investment Management Inc. lowered its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 52.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,260 shares of the technology infrastructure company's stock after selling 4,720 shares during the quarter. Praxis Investment Management Inc.'s holdings in Akamai Technologies were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in shares of Akamai Technologies during the first quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in shares of Akamai Technologies by 50.8% during the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock valued at $32,000 after purchasing an additional 133 shares during the period. LRI Investments LLC boosted its stake in shares of Akamai Technologies by 766.1% during the second quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company's stock valued at $39,000 after purchasing an additional 429 shares during the period. AlphaQuest LLC purchased a new stake in shares of Akamai Technologies during the first quarter valued at approximately $42,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Akamai Technologies during the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the 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 completion of the transaction, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. This represents a 15.87% 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, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the transaction, the chief technology officer owned 27,910 shares of the company's stock, valued at approximately $2,149,070. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock worth $917,290. 2.00% of the stock is owned by corporate insiders.

Akamai Technologies Price Performance

AKAM opened at $72.86 on Friday. The stock has a fifty day simple moving average of $76.20 and a two-hundred day simple moving average of $77.07. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.48 and a beta of 0.75. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data 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 business 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%.The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior 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. Research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AKAM has been the subject of a number of analyst reports. Weiss Ratings lowered Akamai Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. Piper Sandler dropped their price target 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. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. The Goldman Sachs Group initiated coverage on Akamai Technologies in a research note on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target for the company. Finally, Morgan Stanley lowered Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target for the company. in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $93.58.

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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