Chevy Chase Trust Holdings LLC Trims Stock Position in Akamai Technologies, Inc. $AKAM

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,226 shares of the technology infrastructure company’s stock after selling 1,567 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Akamai Technologies were worth $6,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Arista Wealth Management LLC purchased a new stake in shares of Akamai Technologies during the 2nd quarter valued at about $239,000. Mutual Advisors LLC increased its holdings in 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 acquiring an additional 177 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in Akamai Technologies by 17.4% in the 2nd quarter. Generali Asset Management SPA SGR now owns 11,658 shares of the technology infrastructure company’s stock worth $930,000 after acquiring an additional 1,732 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Akamai Technologies by 7.5% in the 2nd quarter. Boston Trust Walden Corp now owns 353,555 shares of the technology infrastructure company’s stock worth $28,200,000 after acquiring an additional 24,568 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its holdings in Akamai Technologies by 7.6% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 16,237 shares of the technology infrastructure company’s stock worth $1,295,000 after acquiring an additional 1,145 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the 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 sale, the executive vice president owned 21,211 shares in the company, valued at $1,606,945.36. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the transaction, the chief technology officer owned 27,910 shares in the company, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $917,290 over the last quarter. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Up 1.9%

Shares of AKAM opened at $74.25 on Tuesday. The company has a market cap of $10.65 billion, a PE ratio of 26.33, a P/E/G ratio of 3.48 and a beta of 0.75. The business has a fifty day moving average of $76.27 and a 200 day moving average of $77.06. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.76. 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 (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company 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. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Upgrades and Downgrades

AKAM has been the subject of several analyst reports. Zacks Research raised shares of Akamai Technologies to a “hold” rating in a report on Monday, August 11th. Scotiabank reduced their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating for the company in a report on Friday, August 8th. Raymond James Financial reduced their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, August 8th. The Goldman Sachs Group started coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 target price for the company. Finally, DA Davidson restated a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.58.

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.