Akamai Technologies, Inc. $AKAM Shares Acquired by Cim Investment Management Inc.

Cim Investment Management Inc. raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 99.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,735 shares of the technology infrastructure company’s stock after acquiring an additional 21,331 shares during the quarter. Akamai Technologies makes up about 0.7% of Cim Investment Management Inc.’s holdings, making the stock its 23rd largest holding. Cim Investment Management Inc.’s holdings in Akamai Technologies were worth $3,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of 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. Nuveen LLC acquired a new stake in shares of Akamai Technologies during the first quarter worth about $11,697,000. Public Sector Pension Investment Board boosted its position in Akamai Technologies by 7.5% in the 1st quarter. Public Sector Pension Investment Board now owns 23,237 shares of the technology infrastructure company’s stock valued at $1,871,000 after buying an additional 1,612 shares during the period. Resona Asset Management Co. Ltd. grew its stake in Akamai Technologies by 4.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 65,447 shares of the technology infrastructure company’s stock worth $5,265,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Akamai Technologies by 25.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,706 shares of the technology infrastructure company’s stock worth $459,000 after buying an additional 1,170 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $85.88 on Friday. The company has a 50-day moving average of $81.26 and a two-hundred day moving average of $78.74. The stock has a market cap of $12.36 billion, a P/E ratio of 25.18, a PEG ratio of 3.16 and a beta of 0.68. 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.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results 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. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.Akamai Technologies’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 earnings per share. 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, research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 5,000 shares of the business’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 value of $383,250.00. Following the completion of the sale, the executive vice president directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 3,500 shares of the company’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 of the company’s stock, valued at approximately $2,099,260. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 18,938 shares of company stock worth $1,615,842. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AKAM. President Capital lifted their price target on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Citigroup raised their price target on Akamai Technologies from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Piper Sandler upped their price objective on Akamai Technologies from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. HSBC lifted their target price on Akamai Technologies from $130.00 to $134.00 in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 8th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.