Akamai Technologies, Inc. $AKAM Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,982 shares of the technology infrastructure company’s stock after selling 691 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Akamai Technologies were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC raised its stake in Akamai Technologies by 333.8% during the second quarter. AlphaQuest LLC now owns 2,282 shares of the technology infrastructure company’s stock worth $182,000 after purchasing an additional 1,756 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Akamai Technologies by 9.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 424,883 shares of the technology infrastructure company’s stock worth $33,889,000 after purchasing an additional 37,637 shares during the period. Asset Management One Co. Ltd. raised its stake in Akamai Technologies by 3.6% during the second quarter. Asset Management One Co. Ltd. now owns 62,712 shares of the technology infrastructure company’s stock worth $5,002,000 after purchasing an additional 2,204 shares during the period. Carnegie Investment Counsel raised its stake in Akamai Technologies by 0.7% during the second quarter. Carnegie Investment Counsel now owns 74,673 shares of the technology infrastructure company’s stock worth $5,956,000 after purchasing an additional 523 shares during the period. Finally, Paralel Advisors LLC raised its stake in Akamai Technologies by 43.8% during the second quarter. Paralel Advisors LLC now owns 33,188 shares of the technology infrastructure company’s stock worth $2,647,000 after purchasing an additional 10,110 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AKAM has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They set a “sell” rating and a $67.00 target price on the stock. Raymond James Financial reduced their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Wall Street Zen raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Scotiabank reduced their price target on shares of Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 8th. Finally, Piper Sandler reduced their price target on shares of Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.53.

Akamai Technologies Trading Up 0.6%

Shares of Akamai Technologies stock opened at $75.49 on Tuesday. The company has a fifty day simple moving average of $76.36 and a 200-day simple moving average of $77.17. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $105.26. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.59 and a beta of 0.75.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The company’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. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 3,000 shares of the stock in a transaction on 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 sale, the chief technology officer owned 27,910 shares in the company, valued at $2,149,070. This represents a 9.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $303,040.00. Following the sale, the executive vice president owned 21,211 shares of the company’s stock, valued at approximately $1,606,945.36. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $917,290 in the last 90 days. Company insiders own 2.00% of the company’s stock.

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.