Akamai Technologies, Inc. $AKAM Shares Sold by GMT Capital Corp

GMT Capital Corp reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 4.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 329,500 shares of the technology infrastructure company’s stock after selling 13,800 shares during the quarter. Akamai Technologies accounts for approximately 1.1% of GMT Capital Corp’s investment portfolio, making the stock its 21st biggest holding. GMT Capital Corp’s holdings in Akamai Technologies were worth $26,281,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AKAM. WPG Advisers LLC purchased a new stake in Akamai Technologies during the first quarter worth approximately $27,000. UMB Bank n.a. raised its holdings in 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. lifted 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 buying an additional 315 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of 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 purchased a new position in shares of Akamai Technologies in the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM opened at $85.88 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $103.75. The firm has a 50-day simple moving average of $81.26 and a 200-day simple moving average of $78.73. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 3.14 and a beta of 0.68.

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, beating the consensus estimate of $1.64 by $0.22. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business earned $1.59 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS and its Q4 2025 guidance at 1.650-1.850 EPS. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AKAM. TD Cowen boosted their price target on shares of Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Thursday, November 13th. Piper Sandler boosted their target price on Akamai Technologies from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Morgan Stanley decreased their target price on Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. The Goldman Sachs Group lifted their price target on Akamai Technologies from $67.00 to $69.00 and gave the stock a “sell” rating in a research report on Friday, November 7th. Finally, Raymond James Financial boosted their price objective on Akamai Technologies from $84.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.63.

Insider Transactions at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,438 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $89.25, for a total transaction of $931,591.50. Following the completion of the sale, the executive vice president directly owned 13,550 shares of the company’s stock, valued at $1,209,337.50. This trade represents a 43.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction on Friday, November 7th. The shares were 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 owned 24,410 shares in the company, valued at approximately $2,099,260. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,938 shares of company stock worth $1,615,842 over the last 90 days. 2.00% of the stock is currently owned by insiders.

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.