NewEdge Advisors LLC Reduces Position in Akamai Technologies, Inc. $AKAM

Key Points

• NewEdge Advisors cut its Akamai Technologies stake by 58.2% in the second quarter, selling 31,408 shares and retaining 22,572 shares valued at approximately $2.67 million. Institutional investors collectively own 94.28% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $141.62. Recent actions included target increases from Guggenheim and UBS, but downgrades and target cuts from RBC and HSBC.
• Akamai exceeded quarterly expectations, reporting $1.59 in EPS on $1.10 billion in revenue, though earnings declined year over year while revenue grew 5.4%. The stock opened at $107.08, below its 50-day and 200-day moving averages.

NewEdge Advisors LLC trimmed its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 58.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 22,572 shares of the technology infrastructure company's stock after selling 31,408 shares during the quarter. NewEdge Advisors LLC's holdings in Akamai Technologies were worth $2,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AKAM. IFP Advisors Inc grew its stake in shares of Akamai Technologies by 252.8% in the second quarter. IFP Advisors Inc now owns 3,069 shares of the technology infrastructure company's stock worth $363,000 after acquiring an additional 2,199 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Akamai Technologies by 36.1% during the second quarter. Baird Financial Group Inc. now owns 82,540 shares of the technology infrastructure company's stock valued at $9,177,000 after purchasing an additional 21,902 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Akamai Technologies by 20.8% during the second quarter. Beacon Investment Advisory Services Inc. now owns 5,957 shares of the technology infrastructure company's stock valued at $695,000 after purchasing an additional 1,024 shares during the period. Allworth Financial LP lifted its position in Akamai Technologies by 320.6% during the second quarter. Allworth Financial LP now owns 10,920 shares of the technology infrastructure company's stock valued at $1,291,000 after purchasing an additional 8,324 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Akamai Technologies by 129.1% in the second quarter. Arizona State Retirement System now owns 90,539 shares of the technology infrastructure company's stock worth $10,703,000 after purchasing an additional 51,023 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul Joseph sold 3,100 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $105.63, for a total transaction of $327,453.00. Following the completion of the sale, the executive vice president owned 28,472 shares of the company's stock, valued at $3,007,497.36. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank Of Canada cut their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a "sector perform" rating for the company in a research report on Friday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Akamai Technologies in a report on Wednesday, June 24th. Guggenheim raised their price target on Akamai Technologies from $181.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. UBS Group lifted their price objective on Akamai Technologies from $125.00 to $143.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Finally, HSBC lowered Akamai Technologies from a "buy" rating to a "hold" rating and cut their price objective for the stock 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Akamai Technologies presently has a consensus rating of "Hold" and a consensus price target of $141.62.

Akamai Technologies Stock Performance

AKAM opened at $107.08 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.23. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 4.84 and a beta of 0.63. The company's 50 day moving average is $114.05 and its 200 day moving average is $118.30. Akamai Technologies, Inc. has a 12-month low of $70.82 and a 12-month high of $165.45.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology infrastructure company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. Akamai Technologies had a net margin of 9.51% and a return on equity of 11.32%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $1.73 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. 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. On average, equities research analysts predict that Akamai Technologies, Inc. will post 3.63 EPS for the current year.

Akamai Technologies Profile

Akamai Technologies, Inc is a global technology company that provides cloud computing, content delivery and cybersecurity services. Its distributed platform helps businesses deliver websites, applications, software downloads, video and other digital content with improved speed, availability and scalability.

The company's offerings include content delivery and edge computing services, cloud infrastructure, web and application performance solutions, and security products designed to protect applications, application programming interfaces, networks and users from cyber threats.

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.