Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells $323,680.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the completion of the transaction, the executive vice president now owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Akamai Technologies Stock Performance

AKAM opened at $80.73 on Monday. The company has a market capitalization of $12.14 billion, a PE ratio of 24.76, 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 business has a fifty day simple moving average of $91.62 and a 200 day simple moving average of $95.88. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last announced 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. First Trust Advisors LP raised its holdings in shares of Akamai Technologies by 15.6% during 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 buying an additional 690,341 shares in the last quarter. Norges Bank acquired a new position in shares of Akamai Technologies during the 4th quarter worth $477,454,000. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 202,746 shares in the last quarter. Mackenzie Financial Corp raised 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 buying an additional 81,744 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of 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 buying an additional 58,013 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of analyst reports. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research note on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Citigroup decreased their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Finally, Raymond James reduced their target price 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 assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.