State of Alaska Department of Revenue Sells 1,165 Shares of Akamai Technologies, Inc. $AKAM

State of Alaska Department of Revenue trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 6.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,432 shares of the technology infrastructure company’s stock after selling 1,165 shares during the period. State of Alaska Department of Revenue’s holdings in Akamai Technologies were worth $1,310,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC grew its position in Akamai Technologies by 4.7% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company’s stock worth $228,000 after purchasing an additional 126 shares in the last quarter. Opes Wealth Management LLC grew its position in Akamai Technologies by 2.7% in the 1st quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company’s stock worth $392,000 after purchasing an additional 128 shares in the last quarter. UMB Bank n.a. grew its position in shares of Akamai Technologies by 50.8% during the 2nd quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock valued at $32,000 after acquiring an additional 133 shares during the period. Amalgamated Bank grew its position in shares of Akamai Technologies by 0.5% during the 1st quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company’s stock valued at $2,341,000 after acquiring an additional 139 shares during the period. Finally, Horizon Investments LLC grew its position in shares of Akamai Technologies by 7.2% during the 1st quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company’s stock valued at $179,000 after acquiring an additional 149 shares during the period. 94.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AKAM. Raymond James Financial reduced their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price for the company. in a research report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Akamai Technologies in a research report on Saturday, September 27th. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They set a “sell” rating and a $67.00 target price for the company. Finally, Zacks Research raised shares of Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.39.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $76.65, for a total value of $383,250.00. Following the transaction, the executive vice president owned 27,349 shares in the company, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 3,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total value of $231,000.00. Following the completion of the sale, the chief technology officer directly owned 27,910 shares of the company’s stock, valued at approximately $2,149,070. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock worth $1,305,990 in the last 90 days. 2.00% of the stock is owned by company insiders.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $77.56 on Friday. The firm’s fifty day moving average price is $76.38 and its 200-day moving average price is $77.52. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market cap of $11.12 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 3.73 and a beta of 0.75. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. On average, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.