Akamai Technologies, Inc. $AKAM Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 29.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,697 shares of the technology infrastructure company’s stock after selling 30,017 shares during the period. Illinois Municipal Retirement Fund’s holdings in Akamai Technologies were worth $8,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AKAM. Norges Bank purchased a new position in shares of Akamai Technologies in the fourth quarter worth $192,959,000. AQR Capital Management LLC grew its holdings in shares of Akamai Technologies by 522.8% during the third quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company’s stock valued at $153,061,000 after buying an additional 1,695,937 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Akamai Technologies by 570.0% during the third quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company’s stock valued at $123,795,000 after buying an additional 1,390,167 shares during the last quarter. Rubric Capital Management LP acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $104,700,000. Finally, First Trust Advisors LP increased its position in shares of Akamai Technologies by 16.5% in the 4th quarter. First Trust Advisors LP now owns 6,752,000 shares of the technology infrastructure company’s stock valued at $589,112,000 after acquiring an additional 957,345 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $135.57, for a total value of $311,811.00. Following the completion of the transaction, the executive vice president directly owned 59,210 shares of the company’s stock, valued at approximately $8,027,099.70. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Robert Blumofe sold 243 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $129.41, for a total value of $31,446.63. Following the completion of the sale, the chief technology officer owned 31,006 shares in the company, valued at approximately $4,012,486.46. This represents a 0.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AKAM. JPMorgan Chase & Co. lifted their price target on Akamai Technologies from $72.00 to $100.00 in a research report on Friday, May 8th. Scotiabank increased their price objective on Akamai Technologies from $120.00 to $180.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. The Goldman Sachs Group raised their price objective on Akamai Technologies from $76.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, May 8th. Zacks Research raised Akamai Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Thursday, April 2nd. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $145.29.

Akamai Technologies Trading Up 1.2%

NASDAQ AKAM opened at $120.19 on Friday. 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. The company has a market capitalization of $17.47 billion, a PE ratio of 40.47, a P/E/G ratio of 3.72 and a beta of 0.63. The company has a fifty day moving average of $134.23 and a 200 day moving average of $112.78.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, May 7th. The technology infrastructure company reported $1.61 earnings per share for the quarter, hitting the consensus estimate of $1.61. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Akamai Technologies had a return on equity of 12.96% and a net margin of 10.20%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.70 EPS. 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. Research analysts forecast that Akamai Technologies, Inc. will post 3.92 earnings per share for the current year.

About Akamai Technologies

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.