Chevy Chase Trust Holdings LLC Sells 1,567 Shares of Akamai Technologies, Inc. $AKAM

Chevy Chase Trust Holdings LLC lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,226 shares of the technology infrastructure company’s stock after selling 1,567 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Akamai Technologies worth $6,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AKAM. Brighton Jones LLC lifted its position in Akamai Technologies by 101.4% during the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock valued at $384,000 after buying an additional 2,022 shares during the period. Janney Montgomery Scott LLC lifted its position in Akamai Technologies by 23.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,548 shares of the technology infrastructure company’s stock valued at $1,332,000 after buying an additional 3,134 shares during the period. State of Alaska Department of Revenue lifted its position in Akamai Technologies by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 17,597 shares of the technology infrastructure company’s stock valued at $1,416,000 after buying an additional 470 shares during the period. Oppenheimer & Co. Inc. lifted its position in Akamai Technologies by 17.9% during the first quarter. Oppenheimer & Co. Inc. now owns 18,105 shares of the technology infrastructure company’s stock valued at $1,457,000 after buying an additional 2,744 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Akamai Technologies by 2.6% during the first quarter. Asset Management One Co. Ltd. now owns 60,508 shares of the technology infrastructure company’s stock valued at $4,871,000 after buying an additional 1,550 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the sale, the chief technology officer owned 27,910 shares of the company’s stock, valued at $2,149,070. This represents a 9.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the sale, the executive vice president directly owned 27,349 shares of the company’s stock, valued at $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 90 days, insiders sold 12,000 shares of company stock valued at $917,290. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on AKAM. Zacks Research raised Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. Morgan Stanley lowered Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 price target for the company. in a research report on Tuesday, August 5th. Wall Street Zen raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. The Goldman Sachs Group began coverage on Akamai Technologies in a research report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price target for the company. Finally, Piper Sandler lowered their price target on Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Akamai Technologies has an average rating of “Hold” and an average price target of $93.58.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $74.25 on Tuesday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.76. The business has a 50-day simple moving average of $76.27 and a two-hundred day simple moving average of $77.06. 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 firm has a market cap of $10.65 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 3.48 and a beta of 0.75.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. Akamai Technologies’s revenue was up 6.5% on a year-over-year basis. 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 expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.