FORA Capital LLC Has $4.66 Million Position in Akamai Technologies, Inc. $AKAM

FORA Capital LLC increased its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 101.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 58,362 shares of the technology infrastructure company’s stock after purchasing an additional 29,462 shares during the period. FORA Capital LLC’s holdings in Akamai Technologies were worth $4,655,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. WPG Advisers LLC acquired a new position in shares of Akamai Technologies during the first quarter worth approximately $27,000. UMB Bank n.a. increased its position in Akamai Technologies by 50.8% during the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock worth $32,000 after acquiring an additional 133 shares during the period. MUFG Securities EMEA plc acquired a new position in Akamai Technologies during the 2nd quarter valued at $35,000. Assetmark Inc. raised its stake in Akamai Technologies by 198.1% during the 2nd quarter. Assetmark Inc. now owns 474 shares of the technology infrastructure company’s stock valued at $38,000 after purchasing an additional 315 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in Akamai Technologies by 766.1% in the 2nd quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company’s stock valued at $39,000 after purchasing an additional 429 shares during the period. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AKAM shares. Piper Sandler upped their price objective on shares of Akamai Technologies from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 8th. HSBC upped their price target on Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. DA Davidson reissued a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a report on Thursday, October 16th. Finally, President Capital boosted their price objective on Akamai Technologies from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.63.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the sale, the executive vice president owned 27,349 shares of the company’s stock, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $86.00, for a total transaction of $301,000.00. Following the completion of the transaction, the chief technology officer owned 24,410 shares of the company’s stock, valued at $2,099,260. This trade represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,938 shares of company stock worth $1,615,842 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Akamai Technologies Trading Up 0.5%

AKAM stock opened at $85.88 on Friday. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $103.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $81.26 and its 200-day moving average is $78.74. The firm has a market cap of $12.36 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.16 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.59 EPS. Akamai Technologies’s quarterly revenue was up 5.0% on a year-over-year basis. 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 analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.