Resona Asset Management Co. Ltd. Sells 45,243 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Resona Asset Management cut its Akamai Technologies stake by 70.6% in the fourth quarter, selling 45,243 shares and leaving it with 18,852 shares worth about $1.65 million.
• Institutional ownership remains heavy, with hedge funds and other investors owning 94.28% of Akamai’s stock. Several other firms also increased or initiated positions during the period.
• Analysts have turned more constructive on the stock: Bank of America upgraded Akamai to buy and several firms lifted price targets, though the overall consensus remains Hold with a $145.29 target.

Resona Asset Management Co. Ltd. lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 70.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,852 shares of the technology infrastructure company's stock after selling 45,243 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Akamai Technologies were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AKAM. Brighton Jones LLC grew its holdings in Akamai Technologies by 101.4% during the 4th quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock valued at $384,000 after buying an additional 2,022 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Akamai Technologies by 35.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,087 shares of the technology infrastructure company's stock worth $88,000 after purchasing an additional 283 shares during the period. United Services Automobile Association bought a new stake in shares of Akamai Technologies during the 1st quarter worth approximately $266,000. Empowered Funds LLC lifted its stake in shares of Akamai Technologies by 73.0% during the 1st quarter. Empowered Funds LLC now owns 7,134 shares of the technology infrastructure company's stock worth $574,000 after acquiring an additional 3,010 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Akamai Technologies by 152.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,163 shares of the technology infrastructure company's stock worth $93,000 after acquiring an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AKAM. Bank of America raised Akamai Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the company from $130.00 to $175.00 in a research report on Wednesday, May 13th. Oppenheimer lifted their price target on Akamai Technologies from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. HSBC raised their price target on Akamai Technologies from $134.00 to $171.00 in a report on Monday, May 11th. Citigroup raised their price target on Akamai Technologies from $110.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 15th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Thursday, April 2nd. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $145.29.

Insiders Place Their Bets

In other news, EVP Mani Sundaram sold 8,642 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $101.25, for a total value of $875,002.50. Following the transaction, the executive vice president owned 19,923 shares in the company, valued at $2,017,203.75. This trade represents a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Madhu Ranganathan sold 3,131 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $102.00, for a total value of $319,362.00. Following the completion of the transaction, the director owned 9,160 shares in the company, valued at approximately $934,320. This trade represents a 25.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,954 shares of company stock valued at $5,511,371. 2.30% of the stock is owned by corporate insiders.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $147.23 on Friday. The company has a market capitalization of $21.41 billion, a P/E ratio of 49.57, a P/E/G ratio of 4.60 and a beta of 0.45. The business's 50 day moving average is $116.07 and its two-hundred day moving average is $100.47. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.84. Akamai Technologies, Inc. has a 12-month low of $69.78 and a 12-month high of $165.45.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology infrastructure company reported $1.61 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.61. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Akamai Technologies had a return on equity of 12.96% and a net margin of 10.20%.Akamai Technologies's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. Akamai Technologies has set its FY 2026 guidance at 6.400-7.150 EPS and its Q2 2026 guidance at 1.450-1.650 EPS. Analysts expect that Akamai Technologies, Inc. will post 3.93 EPS for the current fiscal year.

Akamai Technologies Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company's core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.

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