Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) COO Sells 5,628 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon sold 5,628 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the transaction, the chief operating officer now owns 24,597 shares in the company, valued at approximately $2,120,261.40. The trade was a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Adam Karon also recently made the following trade(s):

• On Tuesday, March 4th, Adam Karon sold 6,431 shares of Akamai Technologies stock. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $84.15 on Tuesday. Akamai Technologies, Inc. has a 1-year low of $75.50 and a 1-year high of $111.79. 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 fifty day simple moving average of $92.83 and a 200 day simple moving average of $96.48. The stock has a market capitalization of $12.65 billion, a PE ratio of 25.81, a P/E/G ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in AKAM. Norges Bank acquired a new stake in Akamai Technologies during the 4th quarter valued at $477,454,000. First Trust Advisors LP lifted its holdings in 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 valued at $489,383,000 after purchasing an additional 690,341 shares during the last quarter. National Pension Service lifted its holdings in Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock valued at $74,473,000 after purchasing an additional 235,394 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 valued at $423,066,000 after purchasing an additional 202,746 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Raymond James cut their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. 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, Evercore ISI restated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

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.