Everstar Asset Management LLC Makes New Investment in Akamai Technologies, Inc. $AKAM

Everstar Asset Management LLC acquired a new position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the 1st quarter, Holdings Channel reports. The firm acquired 27,451 shares of the technology infrastructure company’s stock, valued at approximately $2,210,000.

Several other large investors have also recently added to or reduced their stakes in AKAM. Alyeska Investment Group L.P. increased its position in Akamai Technologies by 1,001.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock worth $141,149,000 after buying an additional 1,594,206 shares during the period. Vanguard Group Inc. increased its position in Akamai Technologies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after buying an additional 425,461 shares during the period. Vontobel Holding Ltd. increased its position in shares of Akamai Technologies by 234.0% in the first quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company’s stock worth $47,943,000 after purchasing an additional 417,260 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Akamai Technologies by 5,385.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,734 shares of the technology infrastructure company’s stock worth $28,476,000 after purchasing an additional 347,286 shares during the period. Finally, GMT Capital Corp bought a new position in shares of Akamai Technologies in the first quarter worth $27,636,000. Institutional investors own 94.28% of the company’s stock.

Insider Activity

In other news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $77.00, for a total transaction of $231,000.00. Following the sale, the chief technology officer directly owned 27,910 shares of the company’s stock, valued at approximately $2,149,070. This trade represents a 9.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,000 shares of company stock valued at $922,740. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of recent analyst reports. Morgan Stanley cut Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 price target on the stock. in a research report on Tuesday, August 5th. Scotiabank decreased their price target on Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 8th. The Goldman Sachs Group initiated coverage on Akamai Technologies in a research report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price target on the stock. Zacks Research upgraded Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. Finally, Piper Sandler decreased their price target on Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $92.39.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $78.56 on Monday. The stock’s 50-day simple moving average is $77.35 and its 200 day simple moving average is $78.08. The firm has a market capitalization of $11.26 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.81 and a beta of 0.77. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. 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, analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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.