712,400 Shares in Akamai Technologies, Inc. $AKAM Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 712,400 shares of the technology infrastructure company’s stock, valued at approximately $56,821,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.49% of Akamai Technologies as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. grew its holdings in Akamai Technologies by 97.4% during the 1st quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company’s stock valued at $99,000 after purchasing an additional 604 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Akamai Technologies by 0.5% in the first 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 in the last quarter. Polianta Ltd purchased a new position in Akamai Technologies in the second quarter valued at about $1,236,000. Robeco Institutional Asset Management B.V. grew its stake in Akamai Technologies by 1,663.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company’s stock valued at $81,927,000 after purchasing an additional 968,919 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in Akamai Technologies during the 1st quarter worth approximately $311,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They set a “sell” rating and a $67.00 price objective for the company. Piper Sandler lowered their price objective on Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating for the company in a report on Friday, August 8th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Thursday. Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings lowered shares of Akamai Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $93.58.

Akamai Technologies Stock Down 0.1%

AKAM opened at $72.86 on Friday. 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 company has a market capitalization of $10.45 billion, a PE ratio of 25.84, a P/E/G ratio of 3.48 and a beta of 0.75. The stock’s fifty day moving average is $76.20 and its 200-day moving average is $77.07. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80.

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

Insider Activity

In other news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the sale, the executive vice president directly owned 21,211 shares of the company’s stock, valued at $1,606,945.36. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $76.65, for a total value 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 $2,096,300.85. This trade represents 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 worth $917,290. Insiders own 2.00% of the company’s stock.

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.