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 that occurred on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the completion of the sale, the chief operating officer now owns 24,597 shares of the company’s stock, valued at approximately $2,120,261.40. This trade represents a 18.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 value of $517,631.19.

Akamai Technologies Stock Performance

Akamai Technologies stock traded down $3.37 during mid-day trading on Monday, reaching $84.15. The company had a trading volume of 3,872,953 shares, compared to its average volume of 2,738,139. 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 firm has a market cap of $12.65 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68. The company has a 50 day moving average of $93.06 and a 200-day moving average of $96.60. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $111.79.

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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AKAM. Evercore ISI restated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Raymond James decreased their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Institutional Trading of Akamai Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise increased its holdings in Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after buying an additional 20,633 shares during the period. Principal Financial Group Inc. boosted its position in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares in the last quarter. Van ECK Associates Corp increased its stake in Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after acquiring an additional 910 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

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.