PNC Financial Services Group Inc. Buys 841 Shares of Akamai Technologies, Inc. $AKAM

PNC Financial Services Group Inc. grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,945 shares of the technology infrastructure company’s stock after buying an additional 841 shares during the period. PNC Financial Services Group Inc.’s holdings in Akamai Technologies were worth $2,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alyeska Investment Group L.P. increased its stake in Akamai Technologies by 1,001.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock valued at $141,149,000 after acquiring an additional 1,594,206 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of 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 during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Akamai Technologies by 147.0% during the 2nd quarter. Vontobel Holding Ltd. now owns 1,471,281 shares of the technology infrastructure company’s stock valued at $117,349,000 after buying an additional 875,712 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Akamai Technologies during the 2nd quarter valued at about $56,821,000. Finally, Vanguard Group Inc. lifted its position in Akamai Technologies by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after buying an additional 425,461 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other Akamai Technologies news, CTO Robert Blumofe sold 3,500 shares of the company’s stock in a transaction on Friday, November 7th. The shares were 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 directly owned 24,410 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the firm’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 sale, the executive vice president directly owned 27,349 shares of the company’s stock, valued at approximately $2,096,300.85. This represents a 15.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,500 shares of company stock worth $915,250. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the topic of several research reports. Piper Sandler lifted their price target on shares of Akamai Technologies from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Scotiabank lowered 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. TD Cowen raised their price objective on Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Thursday, November 13th. Oppenheimer started coverage on Akamai Technologies in a research note on Monday. They issued an “outperform” rating and a $100.00 target price for the company. Finally, Weiss Ratings upgraded Akamai Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, November 13th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $93.63.

Akamai Technologies Stock Up 0.1%

NASDAQ AKAM opened at $87.74 on Wednesday. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $103.75. The stock has a market capitalization of $12.62 billion, a PE ratio of 31.11, a PEG ratio of 3.49 and a beta of 0.72. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. The business’s 50-day moving average is $77.38 and its 200 day moving average is $77.65.

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