Sawgrass Asset Management LLC Sells 113,119 Shares of Akamai Technologies, Inc. $AKAM

Sawgrass Asset Management LLC decreased its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 97.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,932 shares of the technology infrastructure company’s stock after selling 113,119 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Akamai Technologies were worth $222,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Wolff Wiese Magana LLC grew its stake in shares of Akamai Technologies by 497.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 400 shares of the technology infrastructure company’s stock valued at $30,000 after acquiring an additional 333 shares during the period. True Wealth Design LLC lifted its holdings in Akamai Technologies by 1,469.2% during the third quarter. True Wealth Design LLC now owns 408 shares of the technology infrastructure company’s stock valued at $31,000 after purchasing an additional 382 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Akamai Technologies during the second quarter valued at approximately $32,000. Quent Capital LLC bought a new position in shares of Akamai Technologies in the third quarter worth approximately $34,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Akamai Technologies in the second quarter worth $35,000. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AKAM shares. Oppenheimer started coverage on shares of Akamai Technologies in a research note on Monday, November 17th. They set an “outperform” rating and a $100.00 target price on the stock. President Capital upped their price objective on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 29th. DA Davidson reissued a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Thursday, October 16th. Finally, Bank of America cut 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. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.11.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $95.08 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 2.28. Akamai Technologies, Inc. has a 1-year low of $67.51 and a 1-year high of $103.75. The business has a 50 day simple moving average of $88.58 and a two-hundred day simple moving average of $81.06. The stock has a market capitalization of $13.68 billion, a PE ratio of 27.88, a P/E/G ratio of 3.44 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data 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. Akamai Technologies had a return on equity of 14.16% and a net margin of 12.26%.The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $1.59 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. 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. On average, research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 6,560 shares of Akamai Technologies stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $88.03, for a total value of $577,476.80. Following the completion of the transaction, the chief financial officer owned 16,442 shares in the company, valued at approximately $1,447,389.26. This trade represents a 28.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mani Sundaram sold 10,438 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $89.25, for a total value of $931,591.50. Following the sale, the executive vice president directly owned 13,550 shares in the company, valued at $1,209,337.50. The trade was a 43.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,318 shares of company stock valued at $2,890,254 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Akamai Technologies Company Profile

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.