Akamai Technologies, Inc. $AKAM Shares Sold by Alliancebernstein L.P.

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. lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 89.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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. owned 0.13% of Akamai Technologies worth $14,957,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its holdings in shares of Akamai Technologies by 13.8% in the 1st quarter. Advisors Asset Management Inc. now owns 18,032 shares of the technology infrastructure company's stock worth $1,452,000 after purchasing an additional 2,180 shares during the period. Alyeska Investment Group L.P. raised its holdings 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 purchasing an additional 1,594,206 shares during the period. Ancora Advisors LLC raised its holdings in shares of Akamai Technologies by 31.6% in the 1st quarter. Ancora Advisors LLC now owns 2,402 shares of the technology infrastructure company's stock worth $193,000 after purchasing an additional 577 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Akamai Technologies by 62.0% in the 1st quarter. EP Wealth Advisors LLC now owns 16,749 shares of the technology infrastructure company's stock worth $1,348,000 after purchasing an additional 6,409 shares during the period. Finally, Alpine Global Management LLC purchased a new position in shares of Akamai Technologies in the 1st quarter worth about $506,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

AKAM stock opened at $79.20 on Friday. 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 52-week low of $67.51 and a 52-week high of $106.80. The stock's 50 day moving average is $77.25 and its two-hundred day moving average is $78.10. The company has a market capitalization of $11.36 billion, a PE ratio of 28.09, a P/E/G ratio of 3.72 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. The company had revenue of $1.04 billion during 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%.The business's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. Analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on AKAM. Piper Sandler cut their price objective on Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Raymond James Financial cut their price objective on Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Zacks Research upgraded Akamai Technologies to a "hold" rating in a report on Monday, August 11th. KeyCorp began coverage on Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Akamai Technologies in a report on Wednesday, August 13th. They issued a "sell" rating and a $67.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $92.39.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the completion of the transaction, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value of $303,040.00. Following the transaction, the executive vice president 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 sold 12,000 shares of company stock worth $922,740 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.

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