Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon Sells 5,628 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon sold 5,628 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the transaction, the chief operating officer now directly owns 24,597 shares in the company, valued at $2,120,261.40. The trade was a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Adam Karon also recently made the following trade(s):

• On Tuesday, March 4th, Adam Karon sold 6,431 shares of Akamai Technologies stock. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19.

Akamai Technologies Trading Down 3.9 %

Shares of Akamai Technologies stock opened at $84.15 on Tuesday. The firm has a market capitalization of $12.65 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company’s fifty day moving average price is $92.83 and its two-hundred day moving average price is $96.48. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $111.79.

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

Institutional Investors Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP grew its holdings in shares of Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after purchasing an additional 690,341 shares during the last quarter. Norges Bank bought a new stake in Akamai Technologies during the 4th quarter worth about $477,454,000. Geode Capital Management LLC grew its holdings in Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Akamai Technologies by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock worth $232,198,000 after acquiring an additional 81,744 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in Akamai Technologies by 2.7% during the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock worth $211,935,000 after acquiring an additional 58,013 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several recent research reports. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research report on Friday, February 21st. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Robert W. Baird reduced their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

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.