State of Alaska Department of Revenue grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 109.9% in the third quarter, HoldingsChannel.com reports. The firm owned 29,907 shares of the technology infrastructure company’s stock after buying an additional 15,662 shares during the quarter. State of Alaska Department of Revenue’s holdings in Akamai Technologies were worth $3,181,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Akamai Technologies by 3.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,356 shares of the technology infrastructure company’s stock worth $271,000 after buying an additional 70 shares during the period. Tema ETFs LLC boosted its position in Akamai Technologies by 9.5% during the 2nd quarter. Tema ETFs LLC now owns 1,664 shares of the technology infrastructure company’s stock valued at $197,000 after buying an additional 145 shares during the period. Forza Wealth Management LLC boosted its position in Akamai Technologies by 2.0% during the 1st quarter. Forza Wealth Management LLC now owns 8,009 shares of the technology infrastructure company’s stock valued at $920,000 after buying an additional 159 shares during the period. Groupama Asset Managment boosted its position in Akamai Technologies by 6.0% during the 1st quarter. Groupama Asset Managment now owns 3,383 shares of the technology infrastructure company’s stock valued at $389,000 after buying an additional 191 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Akamai Technologies by 2.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,121 shares of the technology infrastructure company’s stock worth $933,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.
Insider Buying and Selling at Akamai Technologies
In other Akamai Technologies 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 transaction, the executive vice president directly owned 28,472 shares of the company’s stock, valued at approximately $3,007,497.36. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kim Salem-Jackson sold 2,013 shares of the company’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $128.00, for a total transaction of $257,664.00. Following the completion of the transaction, the executive vice president owned 57,197 shares of the company’s stock, valued at $7,321,216. This trade represents a 3.40% 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. In the last ninety days, insiders have sold 12,135 shares of company stock valued at $1,467,221. 2.30% of the stock is currently owned by company insiders.
Akamai Technologies Price Performance
AKAM opened at $87.81 on Friday. 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 stock has a market capitalization of $12.62 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 4.13 and a beta of 0.62. The stock’s 50 day moving average price is $108.64 and its 200-day moving average price is $118.00. Akamai Technologies, Inc. has a 52-week low of $70.82 and a 52-week 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 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Akamai Technologies had a return on equity of 11.32% and a net margin of 9.51%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. 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 3.58 EPS for the current year.
Analyst Ratings Changes
A number of research firms have issued reports on AKAM. Guggenheim boosted their price objective on shares of Akamai Technologies from $190.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, September 25th. Evercore reaffirmed an “outperform” rating on shares of Akamai Technologies in a research note on Friday, September 25th. UBS Group increased their target price on shares of Akamai Technologies from $143.00 to $148.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. HSBC lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $171.00 to $123.00 in a report on Monday, August 10th. Finally, Wall Street Zen raised Akamai Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Thirteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $150.10.
Check Out Our Latest Stock Analysis on AKAM
About Akamai Technologies
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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