Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram Sells 10,683 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the transaction, the executive vice president now directly owns 23,988 shares in the company, valued at approximately $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Akamai Technologies Stock Performance

Shares of AKAM opened at $87.52 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.74 and a beta of 0.68. The stock has a 50 day moving average of $93.25 and a 200 day moving average of $96.77. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $113.36.

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

Institutional Investors Weigh In On Akamai Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH purchased a new position in shares of Akamai Technologies in the fourth quarter worth about $2,455,000. Capital A Wealth Management LLC purchased a new position in shares of Akamai Technologies during the 4th quarter worth approximately $367,000. Mackenzie Financial Corp grew its holdings in shares of 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 period. Forum Financial Management LP bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $252,000. Finally, Woodline Partners LP bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $458,000. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AKAM shares. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and reduced their price target for the company from $125.00 to $98.00 in a report on Friday, February 21st. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Raymond James lowered their price target on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

About Akamai Technologies

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.