Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells 10,683 Shares of Stock

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

Akamai Technologies Price Performance

Shares of AKAM opened at $87.52 on Friday. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $113.36. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $93.06 and a two-hundred day moving average of $96.64.

Akamai Technologies (NASDAQ:AKAM) last announced 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). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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 shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after buying an additional 234 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies in the fourth quarter worth $49,000. Bruce G. Allen Investments LLC raised its holdings in shares of Akamai Technologies by 38.8% in 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. Finally, Wolverine Asset Management LLC purchased a new position in shares of Akamai Technologies during the fourth quarter worth $57,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on AKAM shares. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their target price for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $112.00 to $100.00 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 research report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.