Integrated Wealth Concepts LLC lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Free Report) by 217.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,054 shares of the technology infrastructure company’s stock after acquiring an additional 12,363 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Akamai Technologies were worth $2,134,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. IFP Advisors Inc lifted its holdings in shares of Akamai Technologies by 252.8% during the second quarter. IFP Advisors Inc now owns 3,069 shares of the technology infrastructure company’s stock valued at $363,000 after purchasing an additional 2,199 shares during the last quarter. Baird Financial Group Inc. increased its stake in Akamai Technologies by 36.1% in the 2nd quarter. Baird Financial Group Inc. now owns 82,540 shares of the technology infrastructure company’s stock worth $9,177,000 after purchasing an additional 21,902 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its stake in Akamai Technologies by 20.8% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 5,957 shares of the technology infrastructure company’s stock worth $695,000 after purchasing an additional 1,024 shares in the last quarter. Allworth Financial LP increased its stake in Akamai Technologies by 320.6% in the 2nd quarter. Allworth Financial LP now owns 10,920 shares of the technology infrastructure company’s stock worth $1,291,000 after purchasing an additional 8,324 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Akamai Technologies by 129.1% during the 2nd quarter. Arizona State Retirement System now owns 90,539 shares of the technology infrastructure company’s stock worth $10,703,000 after buying an additional 51,023 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Akamai Technologies
In other Akamai Technologies news, CTO Robert Blumofe sold 243 shares of Akamai Technologies 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 completion of the sale, the chief technology officer owned 31,006 shares of the company’s stock, valued at $4,012,486.46. This trade represents a 0.78% decrease in their position. The sale 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. 2.30% of the stock is currently owned by insiders.
Akamai Technologies Trading Down 1.1%
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The technology infrastructure company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $1.10 billion during 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 revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. 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. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 3.66 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms have commented on AKAM. Zacks Research raised shares of Akamai Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. HSBC downgraded 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 research report on Monday, August 10th. Royal Bank Of Canada reduced their price target 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. Susquehanna decreased their price objective on shares of Akamai Technologies from $175.00 to $140.00 and set a “positive” rating for the company in a research note on Monday, August 10th. Finally, TD Cowen lifted their price objective on shares of Akamai Technologies from $135.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $141.62.
Check Out Our Latest Report on Akamai Technologies
Akamai Technologies Company 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.
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