Robert Blumofe Sells 3,500 Shares of Akamai Technologies (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 3,500 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $97.00, for a total transaction of $339,500.00. Following the transaction, the chief technology officer owned 18,074 shares of the company’s stock, valued at $1,753,178. This trade represents a 16.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Robert Blumofe also recently made the following trade(s):

• On Friday, November 7th, Robert Blumofe sold 3,500 shares of Akamai Technologies stock. The stock was sold at an average price of $86.00, for a total transaction of $301,000.00.

Akamai Technologies Stock Down 2.0%

Shares of NASDAQ AKAM opened at $95.08 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.87. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $103.75. The firm’s 50-day moving average price is $88.58 and its 200-day moving average price is $81.05. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 3.44 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The firm’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 and its Q4 2025 guidance at 1.650-1.850 EPS. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Akamai Technologies

Several large investors have recently added to or reduced their stakes in AKAM. DLD Asset Management LP increased its position in shares of Akamai Technologies by 60.0% during the second quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock worth $1,595,200,000 after acquiring an additional 7,500,000 shares during the period. Norges Bank bought a new position in Akamai Technologies in the second quarter worth approximately $266,817,000. AQR Capital Management LLC increased its holdings in Akamai Technologies by 522.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company’s stock worth $153,061,000 after purchasing an additional 1,695,937 shares during the period. Alyeska Investment Group L.P. raised its position in Akamai Technologies by 570.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company’s stock valued at $123,795,000 after purchasing an additional 1,390,167 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Akamai Technologies by 39.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock worth $258,739,000 after buying an additional 980,966 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AKAM shares. Bank of America lowered their price target 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. 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. Scotiabank upped their price target on shares of Akamai Technologies from $94.00 to $105.00 and gave the company a “sector outperform” rating in a report on Friday, January 9th. Piper Sandler raised their price objective on shares of Akamai Technologies from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Akamai Technologies in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Hold” and a consensus price target of $96.11.

About Akamai Technologies

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.