PNC Financial Services Group Inc. Increases Stock Position in Akamai Technologies, Inc. $AKAM

PNC Financial Services Group Inc. increased its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,945 shares of the technology infrastructure company’s stock after acquiring an additional 841 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Akamai Technologies were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew 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 during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of Akamai Technologies by 6.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company’s stock worth $200,015,000 after purchasing an additional 160,665 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Akamai Technologies by 2.3% in the 1st quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company’s stock worth $199,961,000 after buying an additional 56,411 shares during the last quarter. Alyeska Investment Group L.P. increased its position in 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 valued at $141,149,000 after buying an additional 1,594,206 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Akamai Technologies by 147.0% during the second quarter. Vontobel Holding Ltd. now owns 1,471,281 shares of the technology infrastructure company’s stock valued at $117,349,000 after buying an additional 875,712 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 3,500 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the sale, the executive vice president directly owned 27,349 shares of the company’s stock, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 11,500 shares of company stock valued at $915,250. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AKAM shares. President Capital increased their target price on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Scotiabank cut their price objective on shares of Akamai Technologies from $95.00 to $94.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Bank of America reduced their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, October 20th. HSBC upped their target price on shares of Akamai Technologies from $130.00 to $134.00 in a research note on Monday, November 10th. Finally, The Goldman Sachs Group raised their price target on shares of Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a research report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Akamai Technologies has an average rating of “Hold” and an average target price of $93.63.

Akamai Technologies Trading Up 0.1%

Shares of AKAM stock opened at $87.74 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $103.75. The stock has a market capitalization of $12.62 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.49 and a beta of 0.72. The firm’s 50 day moving average is $77.38 and its 200 day moving average is $77.65.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.22. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.59 earnings per share. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. Research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

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.