Acadian Asset Management LLC Purchases 70,061 Shares of Akamai Technologies, Inc. $AKAM

Acadian Asset Management LLC boosted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 14,970.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,529 shares of the technology infrastructure company’s stock after purchasing an additional 70,061 shares during the quarter. Acadian Asset Management LLC’s holdings in Akamai Technologies were worth $5,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AKAM. Alyeska Investment Group L.P. boosted its position in Akamai Technologies by 1,001.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock valued at $141,149,000 after buying an additional 1,594,206 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Akamai Technologies by 1,663.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company’s stock worth $81,927,000 after purchasing an additional 968,919 shares during the last quarter. Vontobel Holding Ltd. increased its position in Akamai Technologies by 147.0% during the 2nd quarter. Vontobel Holding Ltd. now owns 1,471,281 shares of the technology infrastructure company’s stock valued at $117,349,000 after buying an additional 875,712 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at approximately $56,821,000. Finally, Vanguard Group Inc. raised its holdings in shares of Akamai Technologies by 2.3% in 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. 94.28% of the stock is currently owned by institutional investors.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction on Friday, November 7th. The stock was sold at an average price of $86.00, for a total transaction of $301,000.00. Following the sale, the chief technology officer owned 24,410 shares of the company’s stock, valued at $2,099,260. The trade was a 12.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following 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 is available in the SEC filing. Over the last quarter, insiders sold 15,500 shares of company stock worth $1,218,290. Insiders own 2.00% of the company’s stock.

Akamai Technologies Trading Down 1.6%

Shares of AKAM opened at $88.67 on Friday. The stock has a fifty day moving average of $76.84 and a two-hundred day moving average of $77.56. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $103.75. The company has a market capitalization of $12.76 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. 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 (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.22. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. Akamai Technologies’s revenue for the quarter was up 5.0% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Thursday, October 16th. Citigroup increased their price objective on Akamai Technologies from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler boosted their target price on Akamai Technologies from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. TD Cowen boosted their price target on shares of Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Bank of America lowered their price objective on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $93.63.

About Akamai Technologies

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.