Akamai Technologies, Inc. $AKAM Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 24.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 883,064 shares of the technology infrastructure company’s stock after buying an additional 170,664 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.62% of Akamai Technologies worth $66,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in AKAM. DLD Asset Management LP lifted its stake in Akamai Technologies by 60.0% during the second quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock worth $1,595,200,000 after purchasing an additional 7,500,000 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Akamai Technologies by 4.9% during the 2nd quarter. First Trust Advisors LP now owns 6,061,962 shares of the technology infrastructure company’s stock worth $483,502,000 after buying an additional 281,526 shares during the last quarter. Norges Bank acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at $266,817,000. Legal & General Group Plc grew its position in shares of Akamai Technologies by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,812,805 shares of the technology infrastructure company’s stock valued at $224,349,000 after buying an additional 94,012 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in Akamai Technologies by 12.1% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,786,084 shares of the technology infrastructure company’s stock worth $222,218,000 after acquiring an additional 301,423 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson reissued a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Thursday, October 16th. Morgan Stanley reduced their price objective on Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating for the company in a research note on Friday, November 7th. Scotiabank decreased their price objective on Akamai Technologies from $95.00 to $94.00 and set a “hold” rating for the company in a report on Friday, November 7th. HSBC lifted their target price on shares of Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. Finally, President Capital upped their price target on shares of Akamai Technologies from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.72.

Akamai Technologies Trading Down 0.3%

NASDAQ:AKAM opened at $87.97 on Wednesday. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $103.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $84.51 and its 200-day simple moving average is $79.71. The firm has a market cap of $12.66 billion, a P/E ratio of 25.80, a PEG ratio of 3.25 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.22. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS and its Q4 2025 guidance at 1.650-1.850 EPS. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity

In other news, CTO Robert Blumofe sold 3,500 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $86.00, for a total transaction of $301,000.00. Following the transaction, the chief technology officer directly owned 24,410 shares in the company, valued at $2,099,260. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mani Sundaram sold 10,438 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $89.25, for a total transaction of $931,591.50. Following the completion of the sale, the executive vice president owned 13,550 shares of the company’s stock, valued at approximately $1,209,337.50. The trade was a 43.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,498 shares of company stock valued at $1,810,068 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.