Prudential Financial Inc. Cuts Stake in Akamai Technologies, Inc. $AKAM

Prudential Financial Inc. lessened its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,532 shares of the technology infrastructure company’s stock after selling 7,716 shares during the period. Prudential Financial Inc.’s holdings in Akamai Technologies were worth $14,639,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AKAM. WPG Advisers LLC purchased a new stake in shares of Akamai Technologies during the first quarter worth $27,000. UMB Bank n.a. grew its stake 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 worth $32,000 after purchasing an additional 133 shares in the last quarter. Assetmark Inc. increased its holdings in Akamai Technologies by 198.1% during the 2nd quarter. Assetmark Inc. now owns 474 shares of the technology infrastructure company’s stock worth $38,000 after purchasing an additional 315 shares during the period. LRI Investments LLC raised its position in Akamai Technologies by 766.1% in the 2nd quarter. LRI Investments LLC now owns 485 shares of the technology infrastructure company’s stock valued at $39,000 after purchasing an additional 429 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AKAM shares. Weiss Ratings restated a “hold (c-)” rating on shares of Akamai Technologies in a research note on Wednesday, November 19th. Wall Street Zen upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Oppenheimer started coverage on shares of Akamai Technologies in a report on Monday, November 17th. They issued an “outperform” rating and a $100.00 price objective on the stock. Scotiabank decreased their price objective on shares of Akamai Technologies from $95.00 to $94.00 and set a “hold” rating for the company in a research report on Friday, November 7th. Finally, Morgan Stanley dropped their target price on Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating on the stock in a report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Akamai Technologies has an average rating of “Hold” and an average price target of $93.63.

Insider Activity

In related news, CTO Robert Blumofe sold 3,500 shares of the company’s 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 sale, the chief technology officer directly owned 24,410 shares of the company’s stock, valued at $2,099,260. This represents a 12.54% decrease in their position. The sale 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 firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $76.65, for a total value of $383,250.00. Following the transaction, the executive vice president owned 27,349 shares in the company, valued at $2,096,300.85. This represents a 15.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Trading Down 1.4%

Shares of Akamai Technologies stock opened at $89.45 on Thursday. 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 fifty day simple moving average of $78.78 and a 200-day simple moving average of $77.95. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 3.49 and a beta of 0.72. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $103.75.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.59 earnings per share. Akamai Technologies’s quarterly revenue was up 5.0% compared to the same quarter last year. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Akamai Technologies 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.