Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan Sells 10,782 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Akamai Technologies Stock Down 2.0 %

AKAM opened at $97.30 on Tuesday. The firm has a market cap of $14.62 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50 day moving average price of $98.12 and a 200 day moving average price of $96.62. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several recent analyst reports. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. UBS Group started coverage on Akamai Technologies in a report on Monday. They issued a “neutral” rating and a $110.00 target price on the stock. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Monday, December 2nd. Finally, Robert W. Baird dropped their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $117.21.

Institutional Trading of Akamai Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after acquiring an additional 347,626 shares during the period. Geode Capital Management LLC grew its position in shares of Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Empyrean Capital Partners LP bought a new position in shares of Akamai Technologies in the second quarter worth about $15,314,000. Renaissance Technologies LLC lifted its position in shares of Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after purchasing an additional 162,700 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new stake in Akamai Technologies during the 2nd quarter valued at approximately $14,130,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.