Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells $366,280.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Akamai Technologies Trading Down 0.1 %

Shares of AKAM stock traded down $0.06 during trading hours on Wednesday, hitting $90.52. 1,095,413 shares of the company’s stock traded hands, compared to its average volume of 1,539,356. The stock’s 50 day simple moving average is $94.55 and its 200 day simple moving average is $97.36. The stock has a market cap of $13.60 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.83 and a beta of 0.64. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Hedge Funds Weigh In On Akamai Technologies

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after buying an additional 347,626 shares during the last quarter. Geode Capital Management LLC raised its stake in Akamai Technologies by 5.1% during the third 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 during the last quarter. Empyrean Capital Partners LP bought a new position in Akamai Technologies during the second quarter worth $15,314,000. Renaissance Technologies LLC raised its stake in Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after buying an additional 162,700 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new position in Akamai Technologies during the second quarter worth $14,130,000. Institutional investors own 94.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AKAM. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Scotiabank dropped their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Robert W. Baird dropped their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $116.85.

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.