Mitsubishi UFJ Asset Management Co. Ltd. Buys 35,179 Shares of Akamai Technologies, Inc. $AKAM

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 13.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,818 shares of the technology infrastructure company’s stock after buying an additional 35,179 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $23,515,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AKAM. Opes Wealth Management LLC increased its position in shares of Akamai Technologies by 2.7% during the first quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company’s stock worth $392,000 after acquiring an additional 128 shares during the period. UMB Bank n.a. grew its stake in Akamai Technologies by 50.8% in 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. Horizon Investments LLC increased its holdings in Akamai Technologies by 7.2% during the 1st quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company’s stock worth $179,000 after purchasing an additional 149 shares during the period. HighPoint Advisor Group LLC raised its position in Akamai Technologies by 3.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 5,364 shares of the technology infrastructure company’s stock valued at $434,000 after purchasing an additional 176 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings in shares of Akamai Technologies by 4.0% in the 2nd quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock worth $372,000 after buying an additional 177 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AKAM. Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research raised shares of Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. Raymond James Financial boosted their price target on shares of Akamai Technologies from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Monday. Citigroup increased their price objective on shares of Akamai Technologies from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Thursday, October 16th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.32.

Akamai Technologies Stock Up 4.0%

NASDAQ:AKAM opened at $90.61 on Wednesday. The company’s 50-day simple moving average is $76.36 and its 200-day simple moving average is $77.40. 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, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $103.75. The stock has a market capitalization of $12.99 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.49 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.64 by $0.22. The firm had revenue of $1.05 billion during 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%. Akamai Technologies’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous 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. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Robert Blumofe sold 3,500 shares of the firm’s stock in a transaction on 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 owned 24,410 shares of the company’s stock, valued at $2,099,260. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. This trade represents a 15.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 15,500 shares of company stock worth $1,218,290. 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.