Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Akamai Technologies Trading Down 1.0 %
Akamai Technologies stock traded down $0.92 during trading on Friday, reaching $87.43. 2,616,613 shares of the company were exchanged, compared to its average volume of 1,664,409. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.32. The stock's 50 day simple moving average is $100.02 and its two-hundred day simple moving average is $96.88. The company has a market capitalization of $13.13 billion, a P/E ratio of 25.89, a PEG ratio of 3.36 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $86.78 and a 52-week high of $129.17.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of AKAM. Empowered Funds LLC increased its stake in Akamai Technologies by 14.3% during the first quarter. Empowered Funds LLC now owns 3,115 shares of the technology infrastructure company's stock worth $339,000 after acquiring an additional 390 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Akamai Technologies by 27.0% in the 1st quarter. QRG Capital Management Inc. now owns 7,878 shares of the technology infrastructure company's stock valued at $857,000 after buying an additional 1,677 shares during the period. Avantax Advisory Services Inc. lifted its position in Akamai Technologies by 9.6% in the first quarter. Avantax Advisory Services Inc. now owns 2,516 shares of the technology infrastructure company's stock valued at $274,000 after buying an additional 221 shares during the last quarter. ProShare Advisors LLC boosted its stake in Akamai Technologies by 11.9% during the first quarter. ProShare Advisors LLC now owns 31,917 shares of the technology infrastructure company's stock worth $3,471,000 after buying an additional 3,384 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Akamai Technologies by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company's stock valued at $23,038,000 after acquiring an additional 28,304 shares during the period. Institutional investors and hedge funds own 94.28% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on AKAM. Robert W. Baird decreased their price objective on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday. Craig Hallum raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $110.00 to $125.00 in a report on Friday, August 9th. Royal Bank of Canada reissued a "sector perform" rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday. Finally, Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $117.47.
Check Out Our Latest Stock Report on Akamai Technologies
Akamai Technologies Company Profile
(
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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.
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