Akamai Technologies, Inc. $AKAM Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 449,354 shares of the technology infrastructure company’s stock after selling 17,107 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.31% of Akamai Technologies worth $35,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in Akamai Technologies by 101.4% during the 4th quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock worth $384,000 after acquiring an additional 2,022 shares during the period. Federated Hermes Inc. increased its holdings in shares of Akamai Technologies by 346.9% in the first quarter. Federated Hermes Inc. now owns 1,953 shares of the technology infrastructure company’s stock valued at $157,000 after purchasing an additional 1,516 shares during the period. Vanguard Group Inc. raised its stake in shares of Akamai Technologies by 2.3% during 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 purchasing an additional 425,461 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Akamai Technologies during the first quarter worth $1,848,000. Finally, Charles Schwab Investment Management Inc. grew its position in Akamai Technologies by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 940,681 shares of the technology infrastructure company’s stock valued at $75,725,000 after buying an additional 18,437 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,438 shares of Akamai Technologies stock in a transaction on Monday, December 1st. The stock was sold at an average price of $89.25, for a total transaction of $931,591.50. Following the completion of the transaction, the executive vice president directly owned 13,550 shares of the company’s stock, valued at approximately $1,209,337.50. The trade was a 43.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Robert Blumofe sold 3,500 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $86.00, for a total value of $301,000.00. Following the sale, the chief technology officer owned 24,410 shares in the company, valued at approximately $2,099,260. The trade was a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,938 shares of company stock valued at $1,615,842 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Down 3.6%

Shares of NASDAQ AKAM opened at $83.49 on Friday. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $103.75. The firm has a 50-day moving average price of $80.35 and a 200 day moving average price of $78.41. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.22. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company posted $1.59 earnings per share. The firm’s quarterly 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. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HSBC upped their price objective on shares of Akamai Technologies from $130.00 to $134.00 in a research report on Monday, November 10th. Oppenheimer assumed coverage on shares of Akamai Technologies in a research note on Monday, November 17th. They set an “outperform” rating and a $100.00 price target on the stock. Bank of America cut their price target on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, October 20th. Scotiabank lowered their price objective on Akamai Technologies from $95.00 to $94.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Finally, The Goldman Sachs Group boosted their target price on Akamai Technologies from $67.00 to $69.00 and gave the stock a “sell” rating in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.63.

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.