AQR Capital Management LLC Decreases Stock Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• AQR Capital Management LLC reduced its stake in Akamai Technologies by 41.3%, owning approximately 110,739 shares worth $8.76 million after selling 77,991 shares in the first quarter.
• Several large investors increased their stakes in Akamai, with Alyeska Investment Group increasing its position by 1,001.4%, now owning 1.75 million shares valued at $141.15 million.
• Akamai reported quarterly earnings of $1.73 per share, beating expectations, with revenues of $1.04 billion, representing a 6.5% increase compared to the same quarter last year.

AQR Capital Management LLC reduced its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 41.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,739 shares of the technology infrastructure company's stock after selling 77,991 shares during the period. AQR Capital Management LLC owned 0.08% of Akamai Technologies worth $8,768,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley lowered 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 report on Tuesday, August 5th. Scotiabank cut their target price on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler cut their target price on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of Akamai Technologies to a "hold" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $92.39.

Akamai Technologies Price Performance

Shares of AKAM stock traded down $2.36 during mid-day trading on Friday, hitting $76.84. The company had a trading volume of 1,518,720 shares, compared to its average volume of 1,632,376. 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 price is $77.20 and its 200-day moving average price is $78.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. The company has a market capitalization of $11.02 billion, a P/E ratio of 27.25, a P/E/G ratio of 3.81 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released 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. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company's quarterly revenue was up 6.5% compared to the same quarter last year. 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 forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the transaction, the chief technology officer owned 27,910 shares of the company's stock, valued at approximately $2,149,070. The trade was a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 in the company, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $922,740. 2.00% of the stock is currently owned by corporate 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.