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

Arrowstreet Capital Limited Partnership reduced its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 449,354 shares of the technology infrastructure company’s stock after selling 17,107 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Akamai Technologies were worth $35,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AKAM. Claret Asset Management Corp acquired a new stake in Akamai Technologies during the 2nd quarter valued at $233,000. Norges Bank purchased a new stake in shares of Akamai Technologies in the second quarter valued at $266,817,000. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Akamai Technologies by 49.2% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 176,531 shares of the technology infrastructure company’s stock valued at $14,080,000 after acquiring an additional 58,181 shares in the last quarter. DLD Asset Management LP boosted its stake 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 valued at $1,595,200,000 after acquiring an additional 7,500,000 shares during the last quarter. Finally, Aristides Capital LLC purchased a new stake in Akamai Technologies during the 2nd quarter worth about $1,769,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,438 shares of the business’s stock in a transaction dated 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 sale, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $76.65, for a total value of $383,250.00. Following the completion of the transaction, the executive vice president owned 27,349 shares in the company, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 18,938 shares of company stock worth $1,615,842. 2.00% of the stock is owned by insiders.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $83.49 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 debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. 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 market cap of $12.01 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 3.21 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 earnings per share 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $1.59 EPS. Akamai Technologies’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. Sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AKAM. HSBC upped their target price on shares of Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. Piper Sandler boosted 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. DA Davidson restated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Thursday, October 16th. Raymond James Financial lifted their target price on shares of Akamai Technologies from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Finally, The Goldman Sachs Group boosted their price target on Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of “Hold” and an average target price 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.