Ethic Inc. Trims Position in Akamai Technologies, Inc. $AKAM

Ethic Inc. lessened its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,813 shares of the technology infrastructure company’s stock after selling 1,013 shares during the quarter. Ethic Inc.’s holdings in Akamai Technologies were worth $2,294,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. WPG Advisers LLC purchased a new position in Akamai Technologies in the 1st quarter worth about $27,000. UMB Bank n.a. grew its holdings in Akamai Technologies by 50.8% during the 2nd 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 in the last quarter. LRI Investments LLC grew its holdings in Akamai Technologies by 766.1% during the 2nd quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company’s stock worth $39,000 after acquiring an additional 429 shares in the last quarter. AlphaQuest LLC bought a new position in Akamai Technologies during the 1st quarter worth about $42,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Akamai Technologies during the 1st quarter worth about $49,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AKAM shares. Scotiabank dropped their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a report on Friday, August 8th. DA Davidson reiterated a “buy” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Thursday, October 16th. The Goldman Sachs Group started coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They set a “sell” rating and a $67.00 target price on the stock. Raymond James Financial dropped their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Piper Sandler dropped their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Akamai Technologies currently has an average rating of “Hold” and an average target price of $92.53.

Akamai Technologies Stock Up 0.6%

NASDAQ:AKAM opened at $75.05 on Friday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $105.26. The stock has a market capitalization of $10.76 billion, a P/E ratio of 26.61, a P/E/G ratio of 3.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. The company’s 50-day simple moving average is $76.36 and its 200-day simple moving average is $77.11.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned $1.58 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, the chief technology officer directly owned 27,910 shares in the company, valued at $2,149,070. This trade represents a 9.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the completion of the sale, the executive vice president owned 21,211 shares of the company’s stock, valued at $1,606,945.36. This trade represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $917,290 in the last three months. 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.