Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon Sells 5,628 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) COO Adam Karon sold 5,628 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $86.20, for a total value of $485,133.60. Following the completion of the transaction, the chief operating officer now directly owns 24,597 shares of the company's stock, valued at approximately $2,120,261.40. This represents a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Adam Karon also recently made the following trade(s):

• On Tuesday, March 4th, Adam Karon sold 6,431 shares of Akamai Technologies stock. The stock was sold at an average price of $80.49, for a total value of $517,631.19.

Akamai Technologies Stock Down 1.3 %

Shares of Akamai Technologies stock traded down $1.00 on Thursday, reaching $78.66. The company's stock had a trading volume of 2,447,097 shares, compared to its average volume of 2,810,352. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $110.18. The firm's fifty day simple moving average is $92.21 and its two-hundred day simple moving average is $96.21. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 2.74 and a beta of 0.68.

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Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 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 company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Equities analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH acquired a new position in shares of Akamai Technologies in the 4th quarter valued at about $2,455,000. Capital A Wealth Management LLC acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $367,000. Mackenzie Financial Corp boosted its stake in Akamai Technologies by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company's stock worth $232,198,000 after purchasing an additional 81,744 shares during the last quarter. Forum Financial Management LP purchased a new position in Akamai Technologies in the 4th quarter worth approximately $252,000. Finally, Woodline Partners LP acquired a new position in shares of Akamai Technologies during the 4th quarter valued at about $458,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several recent analyst reports. Piper Sandler cut Akamai Technologies from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $112.00 to $100.00 in a report on Friday, February 21st. TD Cowen cut Akamai Technologies from a "buy" rating to a "hold" rating and decreased their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Susquehanna lowered their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Evercore ISI reissued an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $107.55.

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.