Vident Advisory LLC Purchases 139,020 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Vident Advisory LLC increased its stake in Akamai Technologies by 137.8%, owning $19.31 million worth of shares as of the latest SEC filing.
• Insider trading activity has shown a decrease in ownership, with EVP Paul C. Joseph and CTO Robert Blumofe each selling shares recently, totaling 12,000 shares valued at $922,740 over the past 90 days.
• Akamai Technologies exceeded quarterly earnings expectations, reporting $1.04 billion in revenue and earnings per share (EPS) of $1.73, an increase compared to the same quarter last year.

Vident Advisory LLC grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 137.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 239,879 shares of the technology infrastructure company's stock after acquiring an additional 139,020 shares during the period. Vident Advisory LLC owned about 0.16% of Akamai Technologies worth $19,310,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AKAM. Vanguard Group Inc. raised 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 worth $1,503,205,000 after buying an additional 425,461 shares during the last quarter. Mackenzie Financial Corp raised its stake in Akamai Technologies by 2.3% during the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock worth $199,961,000 after buying an additional 56,411 shares during the last quarter. Northern Trust Corp raised its stake in Akamai Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,861,845 shares of the technology infrastructure company's stock worth $178,085,000 after buying an additional 163,472 shares during the last quarter. Retirement Systems of Alabama raised its stake in Akamai Technologies by 16.4% during the first quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company's stock worth $85,434,000 after buying an additional 149,762 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Akamai Technologies by 2.0% during 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 during the last quarter. Institutional investors own 94.28% of the company's stock.

Insider Activity

In other news, EVP Paul C. Joseph sold 5,000 shares of the business's 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 sale, the executive vice president owned 32,349 shares of the company's stock, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the sale, the chief technology officer directly owned 27,910 shares in the company, 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. Insiders have sold a total of 12,000 shares of company stock valued at $922,740 over the last quarter. Company insiders own 2.00% of the company's stock.

Akamai Technologies Stock Performance

AKAM stock traded down $2.15 during mid-day trading on Tuesday, hitting $76.98. The company had a trading volume of 1,698,947 shares, compared to its average volume of 2,373,171. The firm has a market cap of $11.04 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The stock's fifty day moving average price is $77.52 and its two-hundred day moving average price is $78.69.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company's quarterly revenue was up 6.5% compared to the same quarter last year. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. On average, analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Scotiabank lowered their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a research note on Friday, August 8th. Raymond James Financial decreased their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. KeyCorp assumed coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 price target for the company. Piper Sandler decreased their price target on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $92.39.

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.