Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Paul C. Joseph Sells 4,000 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Akamai Technologies Trading Down 1.0 %

Shares of AKAM opened at $87.43 on Friday. Akamai Technologies, Inc. has a twelve month low of $86.78 and a twelve month high of $129.17. The firm has a market capitalization of $13.13 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $99.84 and its 200 day simple moving average is $96.78.

Institutional Investors Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Akamai Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock valued at $1,932,009,000 after purchasing an additional 124,359 shares in the last quarter. Geode Capital Management LLC raised its holdings in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares during the period. Earnest Partners LLC lifted its position in Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after buying an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP grew 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 period. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after acquiring an additional 88,732 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AKAM shares. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

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.