VIRGINIA RETIREMENT SYSTEMS ET Al Takes $56.82 Million Position in Akamai Technologies, Inc. $AKAM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) during the second quarter, Holdings Channel reports. The institutional investor purchased 712,400 shares of the technology infrastructure company’s stock, valued at approximately $56,821,000.

A number of other institutional investors have also recently bought and sold shares of AKAM. Alyeska Investment Group L.P. grew its position in Akamai Technologies by 1,001.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock valued at $141,149,000 after purchasing an additional 1,594,206 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Akamai Technologies by 1,663.2% during the 2nd 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 acquiring an additional 968,919 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of 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 acquiring an additional 875,712 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Akamai Technologies by 2.3% during 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 acquiring an additional 425,461 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Akamai Technologies by 5,385.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 353,734 shares of the technology infrastructure company’s stock valued at $28,476,000 after purchasing an additional 347,286 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler reduced their price target on Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating for the company in a report on Friday, August 8th. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price for the company. in a research report on Tuesday, August 5th. DA Davidson restated a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Thursday. Zacks Research upgraded shares of Akamai Technologies to a “hold” rating in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Akamai Technologies has an average rating of “Hold” and an average target price of $93.58.

Akamai Technologies Stock Performance

Shares of AKAM opened at $72.86 on Friday. The company has a market capitalization of $10.45 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.48 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $106.80. The company’s fifty day moving average price is $76.20 and its 200 day moving average price is $77.07.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. As a group, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the transaction, the chief technology officer owned 27,910 shares of the company’s stock, valued at approximately $2,149,070. This represents a 9.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $76.65, for a total value of $383,250.00. Following the sale, the executive vice president directly 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 can be found here. Insiders sold a total of 12,000 shares of company stock worth $917,290 over the last three months. 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.