Akamai Technologies, Inc. $AKAM Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.8% in the second quarter, Holdings Channel reports. The institutional investor owned 322,132 shares of the technology infrastructure company’s stock after acquiring an additional 14,789 shares during the quarter. Rhumbline Advisers’ holdings in Akamai Technologies were worth $25,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at $27,000. UMB Bank n.a. increased its stake in shares of Akamai Technologies by 50.8% during the second 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. raised its position in shares of 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 last quarter. LRI Investments LLC lifted its stake 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 buying an additional 429 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Akamai Technologies in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $89.45 on Thursday. 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 firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 3.49 and a beta of 0.72. The company’s 50-day moving average is $78.78 and its two-hundred day moving average is $77.95. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $103.75.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.64 by $0.22. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. Analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

AKAM has been the topic of several research reports. Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Morgan Stanley dropped their target price on shares of Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Citigroup raised their price target on shares of Akamai Technologies from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Scotiabank lowered their price target on shares of Akamai Technologies from $95.00 to $94.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.63.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 3,500 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $86.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were 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 owned 27,349 shares in the company, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Company 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.