Arizona State Retirement System Increases Holdings in Akamai Technologies, Inc. $AKAM

Key Points

• Arizona State Retirement System increased its Akamai Technologies stake by 129.1% in the second quarter, ending with 90,539 shares valued at approximately $10.7 million. Institutional investors collectively own 94.28% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $141.62; recent targets range from $123 to $165.
• Akamai beat quarterly expectations with $1.59 in adjusted EPS and $1.10 billion in revenue, while revenue rose 5.4% year over year. The stock opened at $110.75, well below its 52-week high of $165.45.

Arizona State Retirement System grew its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 129.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,539 shares of the technology infrastructure company's stock after acquiring an additional 51,023 shares during the quarter. Arizona State Retirement System owned 0.06% of Akamai Technologies worth $10,703,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in Akamai Technologies by 11,945.9% in the second quarter. California State Teachers Retirement System now owns 20,219,939 shares of the technology infrastructure company's stock worth $2,390,199,000 after buying an additional 20,052,082 shares during the last quarter. Norges Bank bought a new stake in shares of Akamai Technologies in the 4th quarter worth $192,959,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Akamai Technologies in the second quarter worth $222,046,000. AQR Capital Management LLC raised its stake in shares of Akamai Technologies by 522.8% in the third quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company's stock worth $153,061,000 after purchasing an additional 1,695,937 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Akamai Technologies during the second quarter valued at $181,508,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Akamai Technologies from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Royal Bank Of Canada lowered their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a "sector perform" rating on the stock in a research note on Friday, August 7th. Zacks Research raised shares of Akamai Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Piper Sandler upgraded shares of Akamai Technologies from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $140.00 to $125.00 in a research note on Tuesday, September 1st. Finally, HSBC cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and decreased their price objective for the company from $171.00 to $123.00 in a report on Monday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $141.62.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $110.75 on Thursday. The business's fifty day moving average is $115.51 and its 200 day moving average is $117.98. Akamai Technologies, Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $165.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $15.92 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 4.87 and a beta of 0.63.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology infrastructure company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Akamai Technologies had a return on equity of 11.32% and a net margin of 9.51%.The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. Akamai Technologies has set its Q3 2026 guidance at 1.600-1.800 EPS and its FY 2026 guidance at 6.400-7.050 EPS. Sell-side analysts predict that Akamai Technologies, Inc. will post 3.66 earnings per share for the current year.

Insider Activity

In other news, CTO Robert Blumofe sold 243 shares of the firm's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $129.41, for a total transaction of $31,446.63. Following the sale, the chief technology officer directly owned 31,006 shares in the company, valued at $4,012,486.46. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.30% of the stock is currently owned by company insiders.

About Akamai Technologies

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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