Akamai Technologies, Inc. $AKAM Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its Akamai stake by 17.2% in the fourth quarter, selling 470,090 shares and ending with 2.26 million shares valued at about $196.9 million.
• Akamai reported Q1 earnings and revenue that matched Wall Street expectations, with EPS of $1.61 and revenue of $1.07 billion, while revenue rose 5.8% year over year.
• Analysts remain mixed on the stock: several firms raised price targets, but the overall consensus rating is still Hold with a target price of $145.29.

Legal & General Group Plc trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,256,183 shares of the technology infrastructure company's stock after selling 470,090 shares during the period. Legal & General Group Plc owned 1.57% of Akamai Technologies worth $196,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Akamai Technologies by 5.8% in the 3rd quarter. Invesco Ltd. now owns 3,239,099 shares of the technology infrastructure company's stock valued at $245,394,000 after purchasing an additional 177,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Akamai Technologies by 35.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,331,333 shares of the technology infrastructure company's stock valued at $176,626,000 after purchasing an additional 612,071 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Akamai Technologies by 522.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company's stock valued at $153,061,000 after purchasing an additional 1,695,937 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Akamai Technologies by 570.0% in the 3rd 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 purchasing an additional 1,390,167 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of Akamai Technologies by 1,467.8% in the 4th quarter. LSV Asset Management now owns 783,900 shares of the technology infrastructure company's stock valued at $68,395,000 after purchasing an additional 733,900 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $144.43 on Thursday. The company has a market cap of $21.00 billion, a P/E ratio of 48.63, a PEG ratio of 4.64 and a beta of 0.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.06 and a current ratio of 2.06. Akamai Technologies, Inc. has a one year low of $69.78 and a one year high of $165.45. The business's 50-day simple moving average is $118.50 and its 200 day simple moving average is $102.22.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology infrastructure company reported $1.61 EPS for the quarter, meeting the consensus estimate of $1.61. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $1.70 EPS. 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, sell-side analysts forecast that Akamai Technologies, Inc. will post 3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, EVP Mani Sundaram sold 1,722 shares of Akamai Technologies stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $98.58, for a total transaction of $169,754.76. Following the sale, the executive vice president directly owned 21,647 shares in the company, valued at $2,133,961.26. The trade was a 7.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madhu Ranganathan sold 3,131 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $102.00, for a total value of $319,362.00. Following the sale, the director owned 9,160 shares in the company, valued at $934,320. This represents a 25.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 42,681 shares of company stock valued at $4,382,493. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AKAM shares. Oppenheimer lifted their price objective on Akamai Technologies from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Raymond James Financial lifted their price objective on Akamai Technologies from $140.00 to $170.00 in a research note on Monday, May 11th. Zacks Research lowered Akamai Technologies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. Scotiabank lifted their price objective on Akamai Technologies from $120.00 to $180.00 and gave the company a "sector outperform" rating in a research note on Friday, May 8th. Finally, Susquehanna lifted their price objective on Akamai Technologies from $120.00 to $175.00 and gave the company a "positive" rating in a research note on Monday, May 11th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $145.29.

Akamai Technologies 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.

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