DNB Asset Management AS Sells 3,223 Shares of Akamai Technologies, Inc. $AKAM

DNB Asset Management AS decreased its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,282 shares of the technology infrastructure company’s stock after selling 3,223 shares during the quarter. DNB Asset Management AS’s holdings in Akamai Technologies were worth $2,176,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased 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 valued at $32,000 after purchasing an additional 133 shares during the period. Horizon Investments LLC grew its position 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 buying an additional 149 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of Akamai Technologies by 4.0% during the second quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock valued at $372,000 after buying an additional 177 shares during the period. Main Management ETF Advisors LLC raised its holdings in shares of Akamai Technologies by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the technology infrastructure company’s stock valued at $935,000 after acquiring an additional 192 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in shares of Akamai Technologies by 3.2% during the second quarter. Meridian Wealth Management LLC now owns 6,354 shares of the technology infrastructure company’s stock valued at $507,000 after acquiring an additional 196 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Shares of AKAM opened at $90.71 on Wednesday. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $103.75. The firm’s 50-day simple moving average is $78.51 and its two-hundred day simple moving average is $77.87. The stock has a market cap of $13.05 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.22. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $1.59 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on AKAM shares. President Capital lifted their price target on shares of Akamai Technologies from $104.00 to $116.00 and gave the company a “buy” rating in a report on Friday, November 7th. Zacks Research upgraded shares of Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. Scotiabank decreased their price target on shares of Akamai Technologies from $95.00 to $94.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Citigroup lifted their price objective on Akamai Technologies from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.63.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $86.00, for a total value of $301,000.00. Following the completion of the transaction, the chief technology officer owned 24,410 shares of the company’s stock, valued at $2,099,260. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was 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 in the company, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by 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.