Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Sells 4,652 Shares of 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 completion of the transaction, the chief financial officer now owns 34,510 shares of the company’s stock, valued at approximately $2,984,424.80. This trade represents a 11.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Akamai Technologies Stock Down 3.9 %

NASDAQ:AKAM traded down $3.37 during trading hours on Monday, hitting $84.15. 3,872,953 shares of the stock traded hands, compared to its average volume of 2,738,139. The firm has a 50 day moving average price of $93.06 and a 200 day moving average price of $96.60. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $111.79. 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 announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AKAM shares. Citigroup decreased their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Royal Bank of Canada decreased their price target on 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. UBS Group initiated coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Finally, Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $107.55.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC increased its position in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Empirical Finance LLC raised its position in shares of Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after buying an additional 103 shares during the last quarter. Van ECK Associates Corp increased 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 buying an additional 105 shares during the period. Farther Finance Advisors LLC lifted its position in shares of 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. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after purchasing an additional 114 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

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.