Akamai Technologies, Inc. $AKAM Shares Bought by Woodline Partners LP

Key Points

• Woodline Partners LP has significantly increased its stake in Akamai Technologies by 3,783.0%, acquiring a total of 186,036 shares valued at approximately $15 million.
• Akamai Technologies recently reported quarterly earnings of $1.73 EPS, exceeding analysts' expectations and demonstrating a 6.5% revenue increase year-over-year.
• Analysts have mixed ratings on Akamai, with a consensus target price of $92.39 and differing outlooks, including one Strong Buy, seven Buy, nine Hold, and four Sell ratings.

Woodline Partners LP lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 3,783.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 186,036 shares of the technology infrastructure company's stock after purchasing an additional 181,245 shares during the quarter. Woodline Partners LP owned about 0.13% of Akamai Technologies worth $14,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. WPG Advisers LLC acquired a new position in shares of Akamai Technologies during the 1st quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after purchasing an additional 155 shares during the period. AlphaQuest LLC acquired a new position in shares of Akamai Technologies during the 1st quarter worth $42,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Akamai Technologies during the 1st quarter worth $49,000. Finally, Quarry LP grew its stake in shares of Akamai Technologies by 623.3% during the 1st quarter. Quarry LP now owns 622 shares of the technology infrastructure company's stock worth $50,000 after purchasing an additional 536 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AKAM shares. Raymond James Financial lowered their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Zacks Research upgraded shares of Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. Piper Sandler decreased their price objective on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a research report on Tuesday, August 5th. Finally, Scotiabank decreased their price objective on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Akamai Technologies currently has an average rating of "Hold" and an average target price of $92.39.

Akamai Technologies Stock Performance

AKAM traded down $0.45 during trading hours on Tuesday, hitting $76.01. 243,449 shares of the stock were exchanged, compared to its average volume of 2,330,555. The stock has a 50-day simple moving average of $77.15 and a 200-day simple moving average of $78.05. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 3.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the business posted $1.58 earnings per share. The firm's revenue for the quarter 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. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Activity

In other news, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the transaction, the executive vice president owned 27,349 shares of the company's stock, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,000 shares of company stock valued at $1,305,990. 2.00% of the stock is currently owned by company insiders.

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.