Public Employees Retirement System of Ohio Cuts Stock Holdings in Akamai Technologies, Inc. $AKAM

Public Employees Retirement System of Ohio decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,931 shares of the technology infrastructure company’s stock after selling 1,395 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Akamai Technologies were worth $3,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AKAM. Brighton Jones LLC grew its holdings in shares of Akamai Technologies by 101.4% during the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock worth $384,000 after purchasing an additional 2,022 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Akamai Technologies by 54.8% during the first 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 in the last quarter. GAMMA Investing LLC grew 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 worth $20,445,000 after purchasing an additional 249,781 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Akamai Technologies by 11.1% during the first quarter. Rhumbline Advisers now owns 307,343 shares of the technology infrastructure company’s stock worth $24,741,000 after purchasing an additional 30,638 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of Akamai Technologies by 5.9% during the first quarter. Czech National Bank now owns 34,504 shares of the technology infrastructure company’s stock worth $2,778,000 after purchasing an additional 1,931 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity

In other Akamai Technologies news, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $76.65, for a total value of $383,250.00. Following the completion of the transaction, the executive vice president directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. This represents a 15.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was 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 approximately $1,606,945.36. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,000 shares of company stock valued at $1,305,990. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. Raymond James Financial lowered 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. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 target price on the stock. KeyCorp began coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They issued an “underweight” rating and a $63.00 target price on the stock. Finally, Morgan Stanley cut shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price on the stock. in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.39.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $75.76 on Wednesday. The company’s fifty day simple moving average is $76.59 and its two-hundred day simple moving average is $77.63. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The firm has a market cap of $10.86 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.66 and a beta of 0.77. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

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.