Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells $323,680.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the transaction, the executive vice president now owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Akamai Technologies Stock Performance

NASDAQ AKAM traded down $0.73 during mid-day trading on Tuesday, reaching $82.06. 1,668,486 shares of the stock were exchanged, compared to its average volume of 1,814,144. The business's 50 day moving average is $91.41 and its 200-day moving average is $95.75. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.18. The company has a market capitalization of $12.34 billion, a P/E ratio of 25.17, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. On average, equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

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Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler lowered shares of Akamai Technologies from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock 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 cut their price target for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Citigroup cut their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Finally, Raymond James cut their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.55.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. Norges Bank purchased a new position in Akamai Technologies during the fourth quarter valued at $477,454,000. First Trust Advisors LP lifted its holdings in Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service lifted its holdings in Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock valued at $30,504,000 after purchasing an additional 273,043 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Akamai Technologies by 43.4% during the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company's stock valued at $74,473,000 after purchasing an additional 235,394 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. 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.