Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) CFO 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 dated 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 transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Akamai Technologies Trading Down 2.0 %

Shares of NASDAQ:AKAM traded down $1.94 during mid-day trading on Monday, reaching $97.30. 1,003,667 shares of the company’s stock were exchanged, compared to its average volume of 1,672,273. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 3.83 and a beta of 0.65. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The business’s fifty day moving average price is $98.19 and its 200-day moving average price is $96.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its stake 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 valued at $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. increased its holdings in Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Akamai Technologies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Akamai Technologies by 32.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after acquiring an additional 46,335 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its stake in shares of Akamai Technologies by 148.4% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock worth $2,009,000 after acquiring an additional 11,890 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Scotiabank lowered their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. UBS Group began coverage on Akamai Technologies in a report on Monday. They set a “neutral” rating and a $110.00 target price on the stock. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.21.

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.