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 Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Akamai Technologies Stock Down 0.0 %

Shares of AKAM opened at $90.50 on Friday. The stock’s 50-day moving average price is $94.26 and its two-hundred day moving average price is $97.31. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a market capitalization of $13.60 billion, a PE ratio of 26.78, a PEG ratio of 3.17 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AKAM shares. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, November 11th. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Robert W. Baird decreased their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a 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 for the company in a report on Monday, December 2nd. Finally, Scotiabank decreased their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.85.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in AKAM. Farther Finance Advisors LLC raised its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares during the last quarter. Eastern Bank acquired a new position in Akamai Technologies in the third quarter valued at $71,000. Covestor Ltd lifted its stake in shares of Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in Akamai Technologies in the third quarter valued at approximately $102,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.