Akamai Technologies, Inc. $AKAM Stock Holdings Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 89.1% during the 1st quarter, Holdings Channel reports. The fund owned 185,806 shares of the technology infrastructure company’s stock after selling 1,522,929 shares during the period. Alliancebernstein L.P.’s holdings in Akamai Technologies were worth $14,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. 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 valued at $1,503,205,000 after acquiring an additional 425,461 shares in the last quarter. Mackenzie Financial Corp raised 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 in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Akamai Technologies by 1,001.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock worth $141,149,000 after buying an additional 1,594,206 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Akamai Technologies by 16.4% in the 1st quarter. Retirement Systems of Alabama now owns 1,061,290 shares of the technology infrastructure company’s stock worth $85,434,000 after buying an additional 149,762 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Akamai Technologies by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 940,681 shares of the technology infrastructure company’s stock worth $75,725,000 after buying an additional 18,437 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $77.00, for a total value of $231,000.00. Following the transaction, the chief technology officer owned 27,910 shares in the company, valued at $2,149,070. The trade was a 9.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total value of $303,040.00. Following the completion of the sale, the executive vice president directly owned 21,211 shares of the company’s stock, valued at $1,606,945.36. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $922,740 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AKAM shares. Scotiabank dropped their price objective on Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 8th. Wall Street Zen raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research raised Akamai Technologies to a “hold” rating in a research note on Monday, August 11th. Raymond James Financial dropped their price objective on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, The Goldman Sachs Group started coverage on Akamai Technologies in a research note on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.39.

Akamai Technologies Stock Up 3.2%

Shares of Akamai Technologies stock opened at $79.20 on Friday. The stock’s fifty day moving average is $77.25 and its 200-day moving average is $78.10. The firm has a market capitalization of $11.36 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 3.72 and a beta of 0.77. The company has a quick ratio of 2.31, a current 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 $106.80.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm 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. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Akamai Technologies Profile

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.