TD Asset Management Inc Sells 14,202 Shares of Akamai Technologies, Inc. $AKAM

TD Asset Management Inc lowered its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 25.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,402 shares of the technology infrastructure company’s stock after selling 14,202 shares during the quarter. TD Asset Management Inc’s holdings in Akamai Technologies were worth $3,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AKAM. WPG Advisers LLC bought a new position in shares of Akamai Technologies in the first quarter worth about $27,000. UMB Bank n.a. raised its stake in shares of Akamai Technologies by 50.8% in the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock worth $32,000 after buying an additional 133 shares during the period. LRI Investments LLC raised its stake in shares of Akamai Technologies by 766.1% in the second quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company’s stock worth $39,000 after buying an additional 429 shares during the period. AlphaQuest LLC bought a new position in shares of Akamai Technologies in the first quarter worth about $42,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Akamai Technologies in the first quarter worth about $49,000. Institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AKAM. Scotiabank cut their target price on Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating for the company in a research 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 research report on Thursday, October 16th. Weiss Ratings cut Akamai Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Morgan Stanley cut Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price for the company. in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.58.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $74.25 on Tuesday. The stock has a market capitalization of $10.65 billion, a PE ratio of 26.33, a P/E/G ratio of 3.48 and a beta of 0.75. 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 current ratio of 2.31 and a quick ratio of 2.31. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $106.76.

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 the consensus estimate of $1.55 by $0.18. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 EPS. 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, research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the transaction, the chief technology officer 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 filing with the SEC, which is available through this link. Also, EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares of the company’s stock, valued at $1,606,945.36. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $917,290 in the last quarter. 2.00% of the stock is owned by corporate insiders.

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.