Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Sells $221,525.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Akamai Technologies Price Performance

AKAM stock traded down $0.92 on Friday, reaching $87.43. 2,616,613 shares of the company’s stock were exchanged, compared to its average volume of 1,664,409. Akamai Technologies, Inc. has a twelve month low of $86.78 and a twelve month high of $129.17. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $100.02 and a 200-day moving average of $96.88. The firm has a market cap of $13.13 billion, a PE ratio of 25.89, a P/E/G ratio of 3.36 and a beta of 0.68.

Analyst Upgrades and Downgrades

AKAM has been the subject of several research reports. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.47.

Hedge Funds Weigh In On Akamai Technologies

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Akamai Technologies in the 2nd quarter worth about $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new position in Akamai Technologies during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.