Mani Sundaram Sells 10,683 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram sold 10,683 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now owns 23,988 shares of the company’s stock, valued at $2,075,441.76. The trade was a 30.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Akamai Technologies Price Performance

AKAM opened at $87.52 on Friday. The company has a market cap of $13.16 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a 50 day moving average of $93.25 and a two-hundred day moving average of $96.77. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Institutional Trading of Akamai Technologies

A number of large investors have recently modified their holdings of AKAM. Farther Finance Advisors LLC boosted its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after purchasing an additional 105 shares in the last quarter. National Pension Service raised its position in Akamai Technologies by 0.8% during the third quarter. National Pension Service now owns 45,869 shares of the technology infrastructure company’s stock valued at $4,630,000 after acquiring an additional 350 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Akamai Technologies by 4.3% in the third quarter. QRG Capital Management Inc. now owns 8,138 shares of the technology infrastructure company’s stock valued at $822,000 after purchasing an additional 335 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Akamai Technologies in the third quarter valued at approximately $102,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

AKAM has been the subject of several research reports. UBS Group began coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Citigroup cut their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.