Akamai Technologies, Inc. $AKAM Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,906 shares of the technology infrastructure company’s stock after acquiring an additional 1,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Akamai Technologies were worth $4,140,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Beverly Hills Private Wealth LLC lifted its holdings in shares of Akamai Technologies by 4.7% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company’s stock worth $228,000 after acquiring an additional 126 shares during the last quarter. Opes Wealth Management LLC lifted its holdings in shares of Akamai Technologies by 2.7% in the 1st quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company’s stock worth $392,000 after acquiring an additional 128 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Akamai Technologies by 50.8% in 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 during the last quarter. Amalgamated Bank lifted its holdings in shares of Akamai Technologies by 0.5% in the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company’s stock worth $2,341,000 after acquiring an additional 139 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of Akamai Technologies by 7.2% in the 1st quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company’s stock worth $179,000 after acquiring an additional 149 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction 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 transaction, the chief technology officer owned 27,910 shares in the company, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the transaction, the executive vice president owned 27,349 shares of the company’s stock, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock worth $1,305,990. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of several recent analyst reports. Zacks Research upgraded shares of Akamai Technologies to a “hold” rating in a report on Monday, August 11th. Raymond James Financial cut their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price on the stock. in a research note on Tuesday, August 5th. The Goldman Sachs Group initiated coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They set a “sell” rating and a $67.00 target price on the stock. Finally, Weiss Ratings downgraded shares of Akamai Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.39.

Akamai Technologies Trading Down 3.0%

Shares of NASDAQ:AKAM opened at $73.24 on Friday. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $106.80. The company’s 50 day moving average is $76.23 and its two-hundred day moving average is $77.35. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. The company has a market cap of $10.50 billion, a PE ratio of 25.97, a P/E/G ratio of 3.61 and a beta of 0.75.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $1.58 EPS. The company’s quarterly 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. Equities analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share 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.