Sterling Capital Management LLC Reduces Holdings in Akamai Technologies, Inc. $AKAM

Sterling Capital Management LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,653 shares of the technology infrastructure company’s stock after selling 12,302 shares during the quarter. Sterling Capital Management LLC owned about 0.13% of Akamai Technologies worth $15,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Alyeska Investment Group L.P. grew its holdings in shares of Akamai Technologies by 1,001.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock worth $141,149,000 after acquiring an additional 1,594,206 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Akamai Technologies by 1,663.2% during the second 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. Vontobel Holding Ltd. grew its stake in Akamai Technologies by 147.0% in the second quarter. Vontobel Holding Ltd. now owns 1,471,281 shares of the technology infrastructure company’s stock worth $117,349,000 after purchasing an additional 875,712 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Akamai Technologies in the second quarter worth $56,821,000. Finally, Vanguard Group Inc. raised its holdings in Akamai Technologies by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after purchasing an additional 425,461 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Aaron Ahola sold 4,000 shares of the firm’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 directly owned 21,211 shares in the company, valued at $1,606,945.36. This trade represents a 15.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction on Friday, August 22nd. The stock was 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 directly owned 27,910 shares of the company’s stock, valued at $2,149,070. The trade was a 9.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,000 shares of company stock valued at $917,290 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AKAM. Piper Sandler boosted their target price on shares of Akamai Technologies from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley lowered shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 price objective on the stock. in a research note on Tuesday, August 5th. Raymond James Financial cut their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Zacks Research upgraded shares of Akamai Technologies to a “hold” rating in a report on Monday, August 11th. Finally, Weiss Ratings upgraded Akamai Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.68.

Akamai Technologies Trading Up 0.0%

NASDAQ:AKAM opened at $73.00 on Friday. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.49 and a beta of 0.72. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average price is $75.84 and its 200-day moving average price is $77.15. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $104.99.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $1.59 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. 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 research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

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.