Allstate Corp Purchases New Holdings in Akamai Technologies, Inc. $AKAM

Allstate Corp acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,970 shares of the technology infrastructure company’s stock, valued at approximately $452,000.

Several other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its stake in shares of Akamai Technologies by 50.8% in the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock valued at $32,000 after purchasing an additional 133 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of Akamai Technologies by 4.0% in the 2nd quarter. Mutual Advisors LLC now owns 4,609 shares of the technology infrastructure company’s stock valued at $372,000 after buying an additional 177 shares in the last quarter. Main Management ETF Advisors LLC raised its stake in shares of Akamai Technologies by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the technology infrastructure company’s stock valued at $935,000 after buying an additional 192 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of Akamai Technologies by 3.2% during the 2nd quarter. Meridian Wealth Management LLC now owns 6,354 shares of the technology infrastructure company’s stock valued at $507,000 after acquiring an additional 196 shares in the last quarter. Finally, Westport Asset Management Inc. boosted its position in shares of Akamai Technologies by 0.8% during the 2nd quarter. Westport Asset Management Inc. now owns 25,200 shares of the technology infrastructure company’s stock valued at $2,010,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $95.08 on Friday. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $103.75. The stock has a market capitalization of $13.68 billion, a PE ratio of 27.88, a PEG ratio of 3.51 and a beta of 0.68. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s fifty day moving average is $88.58 and its 200-day moving average is $81.05.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.22. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS and its Q4 2025 guidance at 1.650-1.850 EPS. Equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on AKAM shares. TD Cowen raised their price target on shares of Akamai Technologies from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Thursday, November 13th. Bank of America cut their target price on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Oppenheimer initiated coverage on Akamai Technologies in a research report on Monday, November 17th. They issued an “outperform” rating and a $100.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 29th. Finally, The Goldman Sachs Group boosted their target price on shares of Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a research note on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of “Hold” and an average target price of $96.11.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 3,500 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $97.00, for a total transaction of $339,500.00. Following the transaction, the chief technology officer owned 18,074 shares of the company’s stock, valued at approximately $1,753,178. This represents a 16.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mani Sundaram sold 10,438 shares of Akamai Technologies stock in a transaction on Monday, December 1st. The shares were sold at an average price of $89.25, for a total value of $931,591.50. Following the completion of the sale, the executive vice president directly owned 13,550 shares of the company’s stock, valued at $1,209,337.50. This trade represents a 43.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,318 shares of company stock valued at $2,890,254 over the last three months. Insiders own 2.00% of the company’s stock.

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.