SummitTX Capital L.P. Invests $6.06 Million in Akamai Technologies, Inc. $AKAM

Key Points

• SummitTX Capital acquired 52,750 Akamai shares worth approximately $6.06 million in the first quarter. Institutional investors now own 94.28% of the company’s stock.
• Analyst sentiment is mixed: Bank of America upgraded Akamai to “buy” with a $175 price target, while Goldman Sachs maintained a “sell” rating. Overall, 12 analysts rate the stock a Buy, eight a Hold and two a Sell, with an average target of $145.29.
• Akamai matched quarterly estimates with $1.61 in EPS and $1.07 billion in revenue, up 5.8% year over year. The stock opened at $112.85, below its 50-day moving average of $130.17, while two executives recently sold shares under pre-arranged trading plans.

SummitTX Capital L.P. acquired a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,750 shares of the technology infrastructure company's stock, valued at approximately $6,058,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rexford Capital Inc. boosted its holdings in Akamai Technologies by 1.9% in the 4th quarter. Rexford Capital Inc. now owns 5,106 shares of the technology infrastructure company's stock valued at $445,000 after purchasing an additional 93 shares during the period. Assetmark Inc. increased its holdings in shares of Akamai Technologies by 31.8% in the fourth quarter. Assetmark Inc. now owns 444 shares of the technology infrastructure company's stock worth $39,000 after purchasing an additional 107 shares during the period. Root Financial Partners LLC raised its position in shares of Akamai Technologies by 45.8% in the fourth quarter. Root Financial Partners LLC now owns 350 shares of the technology infrastructure company's stock worth $31,000 after buying an additional 110 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Akamai Technologies by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 5,502 shares of the technology infrastructure company's stock worth $480,000 after buying an additional 115 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Akamai Technologies by 6.3% during the fourth quarter. Allworth Financial LP now owns 2,196 shares of the technology infrastructure company's stock valued at $192,000 after buying an additional 131 shares during the period. Institutional investors own 94.28% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Akamai Technologies in a research note on Wednesday, June 24th. Bank of America upgraded Akamai Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $130.00 to $175.00 in a research report on Wednesday, May 13th. The Goldman Sachs Group boosted their price objective on Akamai Technologies from $76.00 to $87.00 and gave the stock a "sell" rating in a report on Friday, May 8th. Zacks Research upgraded shares of Akamai Technologies from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Citigroup raised their target price on shares of Akamai Technologies from $110.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Akamai Technologies has an average rating of "Hold" and an average price target of $145.29.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $112.85 on Tuesday. The business has a 50 day moving average of $130.17 and a 200 day moving average of $114.33. The company has a market capitalization of $16.41 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 3.62 and a beta of 0.63. Akamai Technologies, Inc. has a 1-year low of $69.78 and a 1-year high of $165.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 2.06.

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. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Akamai Technologies had a return on equity of 12.96% and a net margin of 10.20%.Akamai Technologies's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 earnings per share. 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. On average, sell-side analysts predict that Akamai Technologies, Inc. will post 3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Robert Blumofe sold 243 shares of the 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 transaction, the chief technology officer owned 31,006 shares of the company's stock, valued at approximately $4,012,486.46. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kim Salem-Jackson sold 2,300 shares of Akamai Technologies stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $135.57, for a total transaction of $311,811.00. Following the completion of the transaction, the executive vice president owned 59,210 shares in the company, valued at approximately $8,027,099.70. The trade was a 3.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.30% of the stock is currently owned by corporate insiders.

Akamai Technologies Profile

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.