Akamai Technologies (NASDAQ:AKAM) Sets New 52-Week Low – Should You Sell?

Akamai Technologies, Inc. (NASDAQ:AKAM)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $73.57 and last traded at $75.11, with a volume of 564970 shares changing hands. The stock had previously closed at $78.78.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. Citigroup decreased their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

Akamai Technologies Price Performance

The company has a 50 day moving average of $88.11 and a 200 day moving average of $94.04. 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 firm has a market cap of $11.08 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data 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 business had revenue of $1.02 billion for 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%. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 35,394 shares of company stock valued at $3,019,323. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Several institutional investors have recently added to or reduced their stakes in AKAM. MassMutual Private Wealth & Trust FSB grew its position in Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock worth $35,000 after buying an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth $49,000. Bruce G. Allen Investments LLC boosted its stake in 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 valued at $53,000 after buying an additional 155 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at about $57,000. 94.28% of the stock is currently owned by institutional investors.

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.