Akamai Technologies, Inc. $AKAM Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC decreased its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 26.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,762 shares of the technology infrastructure company’s stock after selling 989 shares during the quarter. HB Wealth Management LLC’s holdings in Akamai Technologies were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AKAM. Mather Group LLC. grew its holdings in shares of Akamai Technologies by 97.4% during the first quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company’s stock valued at $99,000 after buying an additional 604 shares during the last quarter. Amalgamated Bank grew its stake in Akamai Technologies by 0.5% during the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company’s stock valued at $2,341,000 after purchasing an additional 139 shares during the last quarter. Polianta Ltd purchased a new stake in Akamai Technologies during the 2nd quarter valued at about $1,236,000. MBB Public Markets I LLC acquired a new position in shares of Akamai Technologies in the first quarter valued at about $311,000. Finally, Inspire Investing LLC purchased a new position in shares of Akamai Technologies in the first quarter worth about $313,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the topic of a number of recent research reports. Scotiabank dropped their target price on 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. The Goldman Sachs Group initiated coverage on Akamai Technologies in a research report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 target price on the stock. Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Raymond James Financial decreased their price target on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Akamai Technologies in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and a consensus target price of $92.39.

Akamai Technologies Price Performance

AKAM opened at $76.60 on Wednesday. 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 cap of $10.98 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.75 and a beta of 0.75. The stock’s 50-day moving average price is $76.30 and its 200 day moving average price is $77.47. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80.

Akamai Technologies (NASDAQ:AKAM) 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 analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. 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, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the sale, the chief technology officer owned 27,910 shares of the company’s stock, valued at $2,149,070. This trade represents a 9.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value of $303,040.00. Following the completion of the sale, the executive vice president directly owned 21,211 shares in the company, valued at $1,606,945.36. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $1,305,990 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.