Ethic Inc. Sells 1,013 Shares of Akamai Technologies, Inc. $AKAM

Ethic Inc. reduced its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,813 shares of the technology infrastructure company’s stock after selling 1,013 shares during the quarter. Ethic Inc.’s holdings in Akamai Technologies were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. D.A. Davidson & CO. boosted its position in shares of Akamai Technologies by 5.2% in the second quarter. D.A. Davidson & CO. now owns 10,011 shares of the technology infrastructure company’s stock worth $798,000 after purchasing an additional 491 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Akamai Technologies in the second quarter worth approximately $56,821,000. Arista Wealth Management LLC bought a new position in shares of Akamai Technologies in the second quarter worth approximately $239,000. Mutual Advisors LLC boosted its position in shares of Akamai Technologies by 4.0% in the second quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock worth $372,000 after purchasing an additional 177 shares during the period. Finally, Generali Asset Management SPA SGR boosted its position in shares of Akamai Technologies by 17.4% in the second quarter. Generali Asset Management SPA SGR now owns 11,658 shares of the technology infrastructure company’s stock worth $930,000 after purchasing an additional 1,732 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on AKAM. Zacks Research upgraded shares of Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. The Goldman Sachs Group started coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price target for the company. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price on the stock. in a report on Tuesday, August 5th. Bank of America lowered their target price on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, October 20th. Finally, Scotiabank lowered their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.53.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, the chief technology officer owned 27,910 shares of the company’s stock, valued at $2,149,070. This trade represents a 9.71% 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 hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the completion of the sale, the executive vice president directly owned 21,211 shares of the company’s stock, valued at approximately $1,606,945.36. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock worth $917,290. 2.00% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $75.05 on Friday. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 3.56 and a beta of 0.75. The firm’s fifty day moving average is $76.36 and its 200 day moving average is $77.11. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $105.26.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm 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. Sell-side 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.