Geode Capital Management LLC Sells 60,170 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• Geode Capital Management reduced its Akamai Technologies stake by 1.4% in the fourth quarter, selling 60,170 shares and leaving it with about 4.12 million shares valued at roughly $361.5 million.
• Analyst sentiment remains mixed: several firms recently raised price targets, but the broader consensus from MarketBeat is still a Hold with an average target of $145.29 per share.
• Akamai reported solid quarterly results, matching EPS and revenue expectations, with revenue up 5.8% year over year; the stock was trading higher and has also seen notable insider selling over the past three months.

Geode Capital Management LLC trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,122,761 shares of the technology infrastructure company's stock after selling 60,170 shares during the period. Geode Capital Management LLC owned about 2.87% of Akamai Technologies worth $361,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AKAM. Invesco Ltd. boosted its holdings in Akamai Technologies by 5.8% in the third quarter. Invesco Ltd. now owns 3,239,099 shares of the technology infrastructure company's stock valued at $245,394,000 after acquiring an additional 177,756 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Akamai Technologies by 35.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,331,333 shares of the technology infrastructure company's stock worth $176,626,000 after buying an additional 612,071 shares in the last quarter. AQR Capital Management LLC raised its stake in 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 buying an additional 1,695,937 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Akamai Technologies by 570.0% in the third quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company's stock worth $123,795,000 after buying an additional 1,390,167 shares in the last quarter. Finally, LSV Asset Management raised its stake in Akamai Technologies by 1,467.8% in the fourth quarter. LSV Asset Management now owns 783,900 shares of the technology infrastructure company's stock worth $68,395,000 after buying an additional 733,900 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AKAM. HSBC increased their price target on shares of Akamai Technologies from $134.00 to $171.00 in a research note on Monday, May 11th. Oppenheimer increased their price target on shares of Akamai Technologies from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Raymond James Financial increased their price target on shares of Akamai Technologies from $140.00 to $170.00 in a research note on Monday, May 11th. Scotiabank increased their price target on shares of Akamai Technologies from $120.00 to $180.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 8th. Finally, DA Davidson increased their price target on shares of Akamai Technologies from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $145.29.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, Director Jon Miller sold 11,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $102.67, for a total value of $1,129,370.00. Following the transaction, the director directly owned 22,806 shares in the company, valued at approximately $2,341,492.02. This trade represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 15,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $104.29, for a total transaction of $1,564,350.00. Following the completion of the transaction, the executive vice president owned 22,064 shares in the company, valued at $2,301,054.56. The trade was a 40.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,681 shares of company stock valued at $4,382,493 over the last three months. Insiders own 2.30% of the company's stock.

Akamai Technologies Trading Up 3.0%

Shares of AKAM stock opened at $154.01 on Tuesday. Akamai Technologies, Inc. has a 12-month low of $69.78 and a 12-month high of $165.45. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.84. The firm's 50 day moving average is $120.94 and its 200 day moving average is $103.52. The stock has a market capitalization of $22.39 billion, a P/E ratio of 51.86, a P/E/G ratio of 4.67 and a beta of 0.59.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology infrastructure company reported $1.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.61. Akamai Technologies had a net margin of 10.20% and a return on equity of 12.96%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company posted $1.70 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. 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. Research analysts expect that Akamai Technologies, Inc. will post 3.93 earnings per share for the current year.

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.

Want to see what other hedge funds are holding AKAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.