Adam Karon Sells 6,431 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total value of $517,631.19. Following the completion of the sale, the chief operating officer now directly owns 14,239 shares of the company’s stock, valued at $1,146,097.11. The trade was a 31.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Akamai Technologies Price Performance

Shares of AKAM opened at $82.82 on Thursday. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $113.36. The company has a market capitalization of $12.45 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The firm has a 50 day moving average of $93.55 and a 200 day moving average of $96.87. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, equities research analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AKAM shares. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Raymond James lowered their target price on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Susquehanna reduced their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Itau Unibanco Holding S.A. lifted its position in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after purchasing an additional 234 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies in the fourth quarter worth approximately $49,000. Bruce G. Allen Investments LLC grew its position in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Akamai Technologies during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.