Mani Sundaram Sells 10,438 Shares of Akamai Technologies (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram sold 10,438 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $89.25, for a total value of $931,591.50. Following the transaction, the executive vice president directly owned 13,550 shares of the company’s stock, valued at $1,209,337.50. The trade was a 43.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $86.83 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 2.28. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $103.75. The firm has a market capitalization of $12.49 billion, a PE ratio of 25.46, a P/E/G ratio of 3.27 and a beta of 0.68. The business’s 50 day moving average price is $79.74 and its 200-day moving average price is $78.24.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.64 by $0.22. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $1.59 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS and its Q4 2025 guidance at 1.650-1.850 EPS. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on AKAM. Weiss Ratings restated a “hold (c)” rating on shares of Akamai Technologies in a research report on Monday. Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Raymond James Financial increased their price target on Akamai Technologies from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Bank of America lowered their price objective on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, October 20th. Finally, DA Davidson restated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Thursday, October 16th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $93.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Alberta Investment Management Corp purchased a new position in Akamai Technologies during the second quarter worth about $822,000. Intech Investment Management LLC lifted its holdings in shares of Akamai Technologies by 82.6% in the 2nd quarter. Intech Investment Management LLC now owns 64,731 shares of the technology infrastructure company’s stock worth $5,163,000 after acquiring an additional 29,281 shares during the last quarter. Norges Bank purchased a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $266,817,000. Savant Capital LLC acquired a new stake in Akamai Technologies in the 2nd quarter valued at approximately $309,000. Finally, Paralel Advisors LLC increased its holdings in Akamai Technologies by 43.8% in the 2nd quarter. Paralel Advisors LLC now owns 33,188 shares of the technology infrastructure company’s stock valued at $2,647,000 after purchasing an additional 10,110 shares during the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.