New York Life Investment Management LLC Sells 202 Shares of Akamai Technologies, Inc. $AKAM

New York Life Investment Management LLC trimmed its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,859 shares of the technology infrastructure company’s stock after selling 202 shares during the quarter. New York Life Investment Management LLC’s holdings in Akamai Technologies were worth $1,584,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AKAM. Brighton Jones LLC boosted its holdings in Akamai Technologies by 101.4% in the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock worth $384,000 after acquiring an additional 2,022 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Akamai Technologies by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,661 shares of the technology infrastructure company’s stock worth $1,814,000 after acquiring an additional 2,489 shares in the last quarter. Amalgamated Bank boosted its holdings in Akamai Technologies by 0.5% in the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company’s stock worth $2,341,000 after acquiring an additional 139 shares in the last quarter. Mather Group LLC. boosted its holdings in Akamai Technologies by 97.4% in the first quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company’s stock worth $99,000 after acquiring an additional 604 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Akamai Technologies in the first quarter worth $1,769,000. 94.28% of the stock is owned by institutional investors.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 5,000 shares of the company’s 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 owned 27,349 shares in the company, valued at approximately $2,096,300.85. This represents a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the sale, the chief technology officer directly owned 27,910 shares of the company’s stock, valued at $2,149,070. This represents a 9.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 12,000 shares of company stock worth $917,290. 2.00% of the stock is owned by insiders.

Akamai Technologies Stock Up 1.6%

Akamai Technologies stock opened at $75.10 on Friday. The stock has a market cap of $10.77 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 3.49 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $105.26. The stock has a fifty day moving average of $76.19 and a 200 day moving average of $77.17.

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, beating analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business 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. As a group, sell-side analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Akamai Technologies in a research note on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price target for the company. Zacks Research upgraded Akamai Technologies to a “hold” rating in a research note on Monday, August 11th. Raymond James Financial decreased their price target on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Morgan Stanley cut Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 price target for the company. in a research note on Tuesday, August 5th. 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 equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.53.

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.