Akamai Technologies, Inc. $AKAM Shares Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its stake in Akamai Technologies by 1,001.4% in Q1, acquiring 1,594,206 additional shares to total 1,753,400 shares valued at approximately $141.15 million.
• Recent analyst reports show a mix of ratings for Akamai Technologies, with Goldman Sachs initiating coverage with a "sell" rating and a $67 target, while Wall Street Zen upgraded from "hold" to "buy".
• In insider trading news, EVP Paul C. Joseph sold 5,000 shares for about $388,700, indicating a 13.39% decrease in his ownership, while CTO Robert Blumofe also sold shares totaling approximately $231,000.

Alyeska Investment Group L.P. boosted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1,001.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,753,400 shares of the technology infrastructure company's stock after purchasing an additional 1,594,206 shares during the period. Alyeska Investment Group L.P. owned approximately 1.20% of Akamai Technologies worth $141,149,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. grew its position in Akamai Technologies by 97.4% during the 1st quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock worth $99,000 after purchasing an additional 604 shares during the last quarter. Amalgamated Bank grew its position in Akamai Technologies by 0.5% during the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after purchasing an additional 139 shares during the last quarter. QRG Capital Management Inc. grew its position in Akamai Technologies by 2.9% during the 1st quarter. QRG Capital Management Inc. now owns 7,302 shares of the technology infrastructure company's stock worth $588,000 after purchasing an additional 208 shares during the last quarter. Farther Finance Advisors LLC grew its position in Akamai Technologies by 595.7% during the 1st quarter. Farther Finance Advisors LLC now owns 1,614 shares of the technology infrastructure company's stock worth $130,000 after purchasing an additional 1,382 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Akamai Technologies by 2.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 60,508 shares of the technology infrastructure company's stock worth $4,871,000 after purchasing an additional 1,550 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the sale, the chief technology officer owned 27,910 shares of the company's stock, valued at $2,149,070. This represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at $2,514,811.26. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $922,740 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on AKAM shares. Raymond James Financial dropped their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Scotiabank dropped their price objective on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday, August 8th. KeyCorp began coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective on the stock. Piper Sandler dropped their price objective 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. Finally, Morgan Stanley cut shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 target price for the company. in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $92.39.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $1.37 during trading hours on Friday, reaching $78.56. 1,786,671 shares of the company were exchanged, compared to its average volume of 2,031,975. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. The stock's 50-day moving average is $77.35 and its 200-day moving average is $78.37. The firm has a market cap of $11.26 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.18. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $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. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal 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.