Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) Director Sells $93,380.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Akamai Technologies Stock Up 0.2 %

AKAM stock opened at $94.02 on Friday. The company has a market cap of $14.12 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.57 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The company’s 50-day moving average price is $98.72 and its 200 day moving average price is $96.23. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Institutional Trading of Akamai Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in Akamai Technologies by 19.6% during the first quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after buying an additional 6,724 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in Akamai Technologies by 86.9% during the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after buying an additional 20,633 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its holdings in shares of Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock valued at $2,009,000 after purchasing an additional 11,890 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AKAM. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Finally, TD Cowen lifted their price objective 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. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average 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.