Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Sells $1,064,291.22 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) CFO Edward J. Mcgowan sold 10,782 shares of the 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 owns 12,716 shares of the company's stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM traded down $1.94 during trading hours on Monday, reaching $97.30. 1,525,876 shares of the stock traded hands, compared to its average volume of 1,675,576. The company's 50-day simple moving average is $98.12 and its two-hundred day simple moving average is $96.62. The company has a market capitalization of $14.62 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after acquiring an additional 114 shares during the period. Innealta Capital LLC purchased a new stake in shares of Akamai Technologies during the second quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of Akamai Technologies in the second quarter worth approximately $35,000. Eastern Bank purchased a new position in shares of Akamai Technologies in the third quarter worth $71,000. Finally, Covestor Ltd increased its stake in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company's stock worth $90,000 after buying an additional 358 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AKAM has been the topic of several recent research reports. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. 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, November 11th. UBS Group assumed coverage on Akamai Technologies in a research note on Monday. They issued a "neutral" rating and a $110.00 target price for the company. Oppenheimer upgraded Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Finally, HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.