Adam Karon Sells 5,628 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon sold 5,628 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the completion of the sale, the chief operating officer now directly owns 24,597 shares of the company’s stock, valued at $2,120,261.40. This trade represents a 18.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Adam Karon also recently made the following trade(s):

• On Tuesday, March 4th, Adam Karon sold 6,431 shares of Akamai Technologies stock. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19.

Akamai Technologies Stock Down 4.2 %

Shares of NASDAQ AKAM opened at $80.65 on Wednesday. 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, Inc. has a 12 month low of $75.50 and a 12 month high of $110.79. The firm has a market capitalization of $12.12 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The firm has a fifty day simple moving average of $92.53 and a two-hundred day simple moving average of $96.33.

Akamai Technologies (NASDAQ:AKAM) last issued 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 company 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%. Equities analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AKAM has been the subject of a number of research reports. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Friday, February 21st. Raymond James lowered their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Institutional Trading of Akamai Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $49,000. Banque Cantonale Vaudoise grew its position in shares of Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after buying an additional 20,633 shares during the period. Principal Financial Group Inc. grew its position in shares of Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after buying an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Akamai Technologies by 49.6% in the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after buying an additional 910 shares during the period. 94.28% of the stock is owned by hedge funds and other 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.