F Thomson Leighton Purchases 37,670 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CEO F Thomson Leighton acquired 37,670 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Akamai Technologies Stock Up 3.6 %

AKAM opened at $80.68 on Friday. The company has a 50 day moving average of $94.44 and a 200 day moving average of $97.28. The company has a market cap of $12.12 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.74 and a beta of 0.65. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $113.36. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

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). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on AKAM. Royal Bank of Canada decreased their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Citigroup decreased their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Raymond James decreased their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $107.55.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. TCTC Holdings LLC boosted its holdings in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares during the period. Empirical Finance LLC boosted its holdings in Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after purchasing an additional 103 shares during the period. Van ECK Associates Corp boosted its holdings in Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in shares of Akamai Technologies by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after buying an additional 114 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

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.