State of Alaska Department of Revenue Acquires 15,662 Shares of Akamai Technologies, Inc. $AKAM

Key Points

• State of Alaska Department of Revenue more than doubled its Akamai Technologies stake during the third quarter, acquiring 15,662 additional shares for a total of 29,907 shares valued at approximately $3.18 million.
• Institutional ownership remains high at 94.28%, with several other investment firms also increasing their positions in Akamai during the quarter.
• Analyst sentiment is mixed but generally favorable: 13 analysts rate the stock a Buy, while the consensus rating is Hold with an average price target of $150.10. Akamai recently exceeded quarterly earnings and revenue expectations.

State of Alaska Department of Revenue raised its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 109.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,907 shares of the technology infrastructure company's stock after acquiring an additional 15,662 shares during the period. State of Alaska Department of Revenue's holdings in Akamai Technologies were worth $3,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. boosted its position in shares of Akamai Technologies by 47.8% during the 3rd quarter. Mather Group LLC. now owns 1,807 shares of the technology infrastructure company's stock valued at $192,000 after acquiring an additional 584 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Akamai Technologies by 167.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 8,491 shares of the technology infrastructure company's stock worth $903,000 after purchasing an additional 5,320 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of Akamai Technologies by 150.5% during the third quarter. Krilogy Financial LLC now owns 11,129 shares of the technology infrastructure company's stock worth $1,184,000 after purchasing an additional 6,686 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Akamai Technologies by 8.4% in the third quarter. Contravisory Investment Management Inc. now owns 11,558 shares of the technology infrastructure company's stock worth $1,229,000 after purchasing an additional 896 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in shares of Akamai Technologies by 59.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 9,410 shares of the technology infrastructure company's stock worth $1,001,000 after purchasing an additional 3,515 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AKAM. President Capital raised their target price on shares of Akamai Technologies from $150.00 to $168.00 and gave the company a "buy" rating in a research note on Wednesday, September 30th. Bank of America lifted their target price on shares of Akamai Technologies from $175.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, September 25th. UBS Group boosted their price target on shares of Akamai Technologies from $143.00 to $148.00 and gave the stock a "neutral" rating in a research note on Friday, September 25th. Zacks Research raised shares of Akamai Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Piper Sandler reissued an "overweight" rating and issued a $158.00 price target (up from $125.00) on shares of Akamai Technologies in a report on Friday, September 25th. Thirteen 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $150.10.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul Joseph sold 3,100 shares of the company's stock in a transaction dated 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 directly owned 28,472 shares in the company, valued at $3,007,497.36. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mani Sundaram sold 7,022 shares of the firm's stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $125.62, for a total value of $882,103.64. Following the transaction, the executive vice president directly owned 14,625 shares in the company, valued at $1,837,192.50. This trade represents a 32.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,135 shares of company stock worth $1,467,221 over the last three months. Company insiders own 2.30% of the company's stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $87.81 on Friday. Akamai Technologies, Inc. has a 52-week low of $70.82 and a 52-week high of $165.45. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 4.13 and a beta of 0.62. The company has a fifty day moving average of $108.64 and a 200-day moving average of $118.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.64 and a current ratio of 1.64.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results on Thursday, August 6th. The technology infrastructure company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Akamai Technologies had a net margin of 9.51% and a return on equity of 11.32%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 EPS. 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. Equities research analysts expect that Akamai Technologies, Inc. will post 3.58 EPS for the current year.

Akamai Technologies Profile

Akamai Technologies, Inc NASDAQ: AKAM provides cloud computing, cybersecurity and content delivery services for businesses and public-sector organizations. Its distributed edge platform helps customers deliver websites, applications, media and other digital experiences while improving performance, availability and scalability.

The company's services include web and application performance optimization, content delivery, cloud infrastructure, application and API security, distributed denial-of-service protection, zero-trust security and bot management.

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