State of New Jersey Common Pension Fund D Has $4.08 Million Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Akamai Technologies, Inc. by 7.5%, selling 4,096 shares during the first quarter, leaving it with a total of 50,673 shares valued at approximately $4.08 million.
• Recent analyst comments resulted in a mix of ratings for Akamai, with Morgan Stanley downgrading the stock to "underweight" while both Goldman Sachs and Scotiabank adjusted their price targets downward.
• Akamai Technologies reported $1.73 earnings per share for the latest quarter, exceeding expectations, and projected full-year guidance of 6.600-6.800 EPS for FY 2025.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,673 shares of the technology infrastructure company's stock after selling 4,096 shares during the period. State of New Jersey Common Pension Fund D's holdings in Akamai Technologies were worth $4,079,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AKAM. Vanguard Group Inc. increased its stake in Akamai Technologies by 2.3% during the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock valued at $1,503,205,000 after purchasing an additional 425,461 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Akamai Technologies by 234.0% during the first quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company's stock valued at $47,943,000 after purchasing an additional 417,260 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Akamai Technologies by 5,385.9% during 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 purchasing an additional 347,286 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Akamai Technologies during the first quarter valued at $21,626,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Akamai Technologies by 5,951.4% during the first quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company's stock valued at $20,445,000 after acquiring an additional 249,781 shares during the period. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

AKAM stock traded up $1.32 during trading on Friday, hitting $77.64. The company had a trading volume of 1,719,179 shares, compared to its average volume of 2,324,997. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. 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 firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 2.88 and a beta of 0.76. The business has a 50 day moving average of $77.63 and a 200 day moving average of $79.78.

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 for the quarter, beating analysts' consensus estimates of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned $1.58 EPS. Akamai Technologies'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, research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AKAM. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They set a "sell" rating and a $67.00 price target for the company. UBS Group boosted their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Piper Sandler reduced their price target on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Finally, Raymond James Financial reduced their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a 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 issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $94.89.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the completion of the sale, the executive vice president directly owned 21,211 shares of the company's stock, valued at $1,606,945.36. The trade was a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,157 shares of company stock valued at $1,927,014 over the last 90 days. Insiders own 2.00% of the company's stock.

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.