Alliancebernstein L.P. Lowers Stake in Akamai Technologies, Inc. $AKAM

Key Points

• Alliancebernstein L.P. significantly reduced its stake in Akamai Technologies by 89.1%, now holding 185,806 shares after selling over 1.5 million shares in the first quarter.
• Akamai Technologies reported an EPS of $1.73 for the last quarter, exceeding the consensus estimate of $1.55, with a year-over-year revenue growth of 6.5%.
• Several analysts have downgraded Akamai's price targets, with Piper Sandler lowering its target from $88 to $83 and Raymond James from $110 to $84, amid mixed ratings from various firms.

Alliancebernstein L.P. lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 89.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,806 shares of the technology infrastructure company's stock after selling 1,522,929 shares during the period. Alliancebernstein L.P. owned about 0.13% of Akamai Technologies worth $14,957,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Akamai Technologies during the first quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after acquiring an additional 155 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Akamai Technologies during the first quarter valued at approximately $42,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Akamai Technologies in the first quarter worth approximately $49,000. Finally, Quarry LP raised its stake in Akamai Technologies by 623.3% in the first quarter. Quarry LP now owns 622 shares of the technology infrastructure company's stock worth $50,000 after buying an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

AKAM stock traded down $0.54 during mid-day trading on Wednesday, reaching $75.84. The company's stock had a trading volume of 1,940,944 shares, compared to its average volume of 1,568,198. The stock has a market cap of $10.87 billion, a PE ratio of 26.89, a P/E/G ratio of 3.67 and a beta of 0.77. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The company's 50 day moving average is $76.97 and its two-hundred day moving average is $78.03.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the company posted $1.58 EPS. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price target on the stock. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler lowered their price target on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target on the stock. in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Akamai Technologies in a report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $92.39.

Insider Activity

In related news, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the transaction, the executive vice president owned 27,349 shares of the company's stock, valued at approximately $2,096,300.85. This trade represents a 15.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the transaction, the executive vice president directly owned 21,211 shares of the company's stock, valued at $1,606,945.36. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,000 shares of company stock valued at $1,305,990 in the last 90 days. Company insiders own 2.00% of the company's stock.

Akamai Technologies Company 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.