News Summary
NeutralAkamai beat Q2 2026 earnings expectations and secured a landmark $11.6 billion multi-year Anthropic deal, driving strong Cloud Infrastructure Services growth (+39% YoY) and a 12% stock jump. However, elevated capex guidance (40% of revenue) tied to AI infrastructure buildout has sparked significant analyst skepticism, with multiple price-target cuts citing capex concerns and offsetting recent upgrades.
Red flags
- •Elevated capex at ~40% of revenue tied to Anthropic deal creating profitability headwinds (adjusted EBITDA down 6% YoY despite revenue growth)
- •GAAP net income per diluted share down 27% YoY in Q2 despite earnings beat, signaling margin pressure
- •Analyst consensus fractured: multiple downgrades and price-target cuts in Sept 2026 (D.A. Davidson, HSBC, Susquehanna, Wall Street Zen) offsetting Piper Sandler upgrade and Guggenheim raise
- •Non-GAAP EPS guidance for FY2026 ($6.40–$7.05) represents only modest growth trajectory given capex intensity
Funds Reducing / Exiting (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Point72 | Steve Cohen | 2.6M | -∞ | $304M | <0.1% | -100% | Existing |
| Glenview Capital | Larry Robbins | 0 | −156K | — | 0.5% | -100% | EXITED |
| Sachem Head Capital | Scott Ferguson | 0 | −235K | — | 0.7% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | SHORT | 3 | 1.88 | -12.7% |
| Q1 2026 | LONG | 3 | 2.58 | -10.8% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Capital World Investors | SC 13G | 11.3M | 7.8% | 2026-08-12 | ↗ |
| Vanguard Capital Management | SC 13G | 10.6M | 7.3% | 2026-04-29 | ↗ |
| Vanguard Portfolio Management | SC 13G | 7.6M | 5.2% | 2026-04-28 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Alan Armstrong | senate | — | BUY | $1,001 - $15,000 | 2026-03-27 | 2026-07-21 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.