Gabelli Funds LLC Sells 3,623,000 Shares of Akamai Technologies, Inc. $AKAM

Gabelli Funds LLC cut its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 99.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,000 shares of the technology infrastructure company’s stock after selling 3,623,000 shares during the quarter. Gabelli Funds LLC’s holdings in Akamai Technologies were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AKAM. Norges Bank acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $192,959,000. AQR Capital Management LLC lifted its stake in shares of Akamai Technologies by 522.8% in the third quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company’s stock worth $153,061,000 after acquiring an additional 1,695,937 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of Akamai Technologies by 570.0% in the third quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company’s stock worth $123,795,000 after acquiring an additional 1,390,167 shares during the period. Rubric Capital Management LP bought a new stake in Akamai Technologies in the fourth quarter valued at approximately $104,700,000. Finally, First Trust Advisors LP boosted its holdings in Akamai Technologies by 16.5% in the fourth 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 last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction of $31,446.63. Following the transaction, the chief technology officer directly owned 31,006 shares of the company’s stock, valued at $4,012,486.46. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kim Salem-Jackson sold 2,300 shares of the stock in a transaction 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 owned 59,210 shares in the company, valued at approximately $8,027,099.70. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Akamai Technologies from $72.00 to $100.00 in a report on Friday, May 8th. Guggenheim upped their price objective on shares of Akamai Technologies from $133.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Bank of America upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $175.00 in a research report on Wednesday, May 13th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Friday, May 8th. Finally, Scotiabank boosted their target price on shares of Akamai Technologies from $120.00 to $180.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $145.29.

Akamai Technologies Price Performance

AKAM stock opened at $115.18 on Friday. The stock has a market capitalization of $16.74 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 3.57 and a beta of 0.63. The company’s 50-day moving average is $127.56 and its 200-day moving average is $114.83. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.06 and a quick ratio of 2.06. Akamai Technologies, Inc. has a 1 year low of $69.78 and a 1 year high of $165.45.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, May 7th. The technology infrastructure company reported $1.61 EPS for the quarter, meeting analysts’ consensus estimates of $1.61. Akamai Technologies had a return on equity of 12.96% and a net margin of 10.20%.The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $1.70 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. 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. Equities research analysts expect that Akamai Technologies, Inc. will post 3.91 EPS for the current fiscal year.

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.