Akamai Technologies, Inc. $AKAM Position Increased by Rubric Capital Management LP

Key Points

• Rubric Capital Management increased its Akamai Technologies stake by 8.3% in the first quarter, buying 100,000 additional shares to hold 1.3 million shares worth approximately $149.3 million. Institutional investors collectively own 94.28% of the company.
• Analysts raised their price targets substantially, with targets ranging from $100 to $170, but the consensus rating remains “Hold” with an average price target of $145.29.
• Akamai reported quarterly revenue of $1.07 billion and adjusted earnings of $1.61 per share, both in line with expectations, while revenue increased 5.8% year over year. Two executives sold shares under pre-arranged Rule 10b5-1 trading plans.

Rubric Capital Management LP grew its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,300,000 shares of the technology infrastructure company's stock after purchasing an additional 100,000 shares during the period. Akamai Technologies accounts for 1.6% of Rubric Capital Management LP's portfolio, making the stock its 14th biggest position. Rubric Capital Management LP owned approximately 0.89% of Akamai Technologies worth $149,305,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Akamai Technologies during the fourth quarter worth about $192,959,000. AQR Capital Management LLC lifted its holdings in Akamai Technologies by 522.8% in the third quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company's stock worth $153,061,000 after acquiring an additional 1,695,937 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in Akamai Technologies by 570.0% in the third quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company's stock valued at $123,795,000 after acquiring an additional 1,390,167 shares during the period. First Trust Advisors LP boosted its stake in Akamai Technologies by 16.5% in the fourth quarter. First Trust Advisors LP now owns 6,752,000 shares of the technology infrastructure company's stock valued at $589,112,000 after acquiring an additional 957,345 shares during the period. Finally, Southpoint Capital Advisors LP bought a new position in shares of Akamai Technologies during the first quarter valued at approximately $91,880,000. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on AKAM shares. JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $72.00 to $100.00 in a report on Friday, May 8th. Piper Sandler reissued a "neutral" rating and issued a $156.00 price target (up from $114.00) on shares of Akamai Technologies in a report on Friday, May 8th. UBS Group upped their price target on Akamai Technologies from $110.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Raymond James Financial boosted their price objective on Akamai Technologies from $140.00 to $170.00 in a report on Monday, May 11th. Finally, Royal Bank Of Canada increased their target price on Akamai Technologies from $100.00 to $150.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Akamai Technologies has a consensus rating of "Hold" and an average price target of $145.29.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 243 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $129.41, for a total value of $31,446.63. Following the completion of the sale, the chief technology officer directly owned 31,006 shares of the company's stock, valued at $4,012,486.46. This represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kim Salem-Jackson sold 2,300 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $135.57, for a total transaction of $311,811.00. Following the completion of the sale, the executive vice president owned 59,210 shares of the company's stock, valued at approximately $8,027,099.70. The trade was a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.30% of the stock is currently owned by insiders.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $112.85 on Tuesday. The stock's 50-day moving average is $130.17 and its two-hundred day moving average is $114.33. Akamai Technologies, Inc. has a fifty-two week low of $69.78 and a fifty-two week high of $165.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 2.06. The firm has a market cap of $16.41 billion, a P/E ratio of 38.00, a price-to-earnings-growth ratio of 3.62 and a beta of 0.63.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology infrastructure company reported $1.61 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.61. The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.07 billion. Akamai Technologies had a return on equity of 12.96% and a net margin of 10.20%.The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. Akamai Technologies has set its FY 2026 guidance at 6.400-7.150 EPS and its Q2 2026 guidance at 1.450-1.650 EPS. On average, analysts anticipate that Akamai Technologies, Inc. will post 3.92 earnings per share for the current fiscal year.

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.

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