Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan Sells 4,652 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 4,652 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the sale, the chief financial officer now directly owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. This represents a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Akamai Technologies Price Performance

AKAM stock opened at $80.65 on Wednesday. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.79. 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 fifty day simple moving average of $92.53 and a two-hundred day simple moving average of $96.33. The firm has a market capitalization of $12.12 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS 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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake 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 valued at $25,000 after acquiring an additional 114 shares during the period. Itau Unibanco Holding S.A. raised its stake 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 valued at $45,000 after acquiring an additional 234 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies in the fourth quarter valued at $49,000. Bruce G. Allen Investments LLC raised its stake 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 valued at $53,000 after acquiring an additional 155 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies in the fourth quarter valued at $57,000. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. 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 for the company in a report on Friday, February 21st. TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

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.