North Star Asset Management Inc. Sells 9,696 Shares of Akamai Technologies, Inc. $AKAM

North Star Asset Management Inc. reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,499 shares of the technology infrastructure company’s stock after selling 9,696 shares during the quarter. North Star Asset Management Inc.’s holdings in Akamai Technologies were worth $8,175,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AKAM. Alyeska Investment Group L.P. increased its stake in Akamai Technologies by 1,001.4% in 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 acquiring an additional 1,594,206 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Akamai Technologies by 1,663.2% during the second 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 during the last quarter. Vontobel Holding Ltd. lifted its stake in 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 valued at $117,349,000 after buying an additional 875,712 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Akamai Technologies during the second quarter worth $56,821,000. Finally, Vanguard Group Inc. raised its stake in Akamai Technologies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after buying an additional 425,461 shares during the period. 94.28% of the stock is owned by institutional investors.

Insider Activity at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies 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 $2,099,260. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $76.65, for a total value of $383,250.00. Following the transaction, the executive vice president owned 27,349 shares of the company’s stock, valued at $2,096,300.85. This represents a 15.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Down 0.8%

NASDAQ AKAM opened at $88.34 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. The stock has a market capitalization of $12.71 billion, a PE ratio of 31.33, a PEG ratio of 3.49 and a beta of 0.72. The business’s 50-day moving average is $78.22 and its 200 day moving average is $77.77. Akamai Technologies, Inc. has a 1 year low of $67.51 and a 1 year high of $103.75.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $1.59 EPS. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. Sell-side analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AKAM shares. Citigroup lifted their price objective on shares of Akamai Technologies from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. DA Davidson restated a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Thursday, October 16th. Bank of America decreased their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, October 20th. Piper Sandler upped their price objective on Akamai Technologies from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Morgan Stanley dropped their price objective on shares of Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating on the stock in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $93.63.

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.