Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Sells $402,304.96 in Stock

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

Akamai Technologies Trading Down 1.2 %

Shares of NASDAQ AKAM opened at $79.66 on Thursday. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $110.79. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 2.74 and a beta of 0.68. 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’s fifty day moving average is $92.21 and its 200-day moving average is $96.21.

Akamai Technologies (NASDAQ:AKAM) last posted 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 return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Equities research analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research reports. Citigroup reduced their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after acquiring an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $49,000. Bruce G. Allen Investments LLC lifted its position in Akamai Technologies by 38.8% in the 4th 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 in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Akamai Technologies in the 4th quarter worth $57,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.