FORA Capital LLC Acquires 29,462 Shares of Akamai Technologies, Inc. $AKAM

FORA Capital LLC boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 101.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,362 shares of the technology infrastructure company’s stock after acquiring an additional 29,462 shares during the quarter. FORA Capital LLC’s holdings in Akamai Technologies were worth $4,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKAM. UMB Bank n.a. raised its stake in shares of Akamai Technologies by 50.8% in 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 last quarter. Horizon Investments LLC raised its stake in shares of Akamai Technologies by 7.2% during the first quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company’s stock worth $179,000 after buying an additional 149 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of Akamai Technologies by 4.0% during the second quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock worth $372,000 after purchasing an additional 177 shares during the period. Main Management ETF Advisors LLC raised its position in shares of Akamai Technologies by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the technology infrastructure company’s stock valued at $935,000 after acquiring an additional 192 shares during the period. Finally, Meridian Wealth Management LLC boosted its position in shares of Akamai Technologies by 3.2% during the second quarter. Meridian Wealth Management LLC now owns 6,354 shares of the technology infrastructure company’s stock worth $507,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ AKAM 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 firm has a market capitalization of $12.36 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 3.16 and a beta of 0.68. The firm’s fifty day moving average price is $81.26 and its two-hundred day moving average price is $78.74. 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 (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. The firm had revenue of $1.05 billion for 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%.The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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 anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several recent analyst reports. HSBC increased their price target on Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 8th. DA Davidson reissued a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Thursday, October 16th. Bank of America cut their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Finally, Citigroup increased their target price on Akamai Technologies from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Six research 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. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Hold” and an average target price of $93.63.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Mani Sundaram sold 10,438 shares of Akamai Technologies stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $89.25, for a total value of $931,591.50. Following the transaction, the executive vice president owned 13,550 shares in the company, valued at $1,209,337.50. The trade was a 43.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $301,000.00. Following the sale, the chief technology officer directly owned 24,410 shares in the company, valued at approximately $2,099,260. The trade was a 12.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,938 shares of company stock worth $1,615,842 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies 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.