Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Sells 4,652 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 4,652 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the transaction, the chief financial officer now directly owns 34,510 shares of the company’s stock, valued at $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $79.66 on Thursday. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $110.79. The company’s fifty day moving average price is $92.21 and its 200-day moving average price is $96.21. The stock has a market cap of $11.97 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Susquehanna decreased their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Citigroup dropped their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.55.

Institutional Investors Weigh In On Akamai Technologies

A number of hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after acquiring an additional 234 shares during the period. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC boosted its position in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies in the fourth quarter worth $57,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Company 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.