Edward J. Mcgowan Sells 4,652 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 4,652 shares of Akamai Technologies stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the sale, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. The trade was a 11.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Akamai Technologies Stock Down 4.2 %

Shares of Akamai Technologies stock opened at $80.65 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a market capitalization of $12.12 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $110.79. The company has a 50-day simple moving average of $92.53 and a two-hundred day simple moving average of $96.33.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AKAM. Farther Finance Advisors LLC raised its holdings in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of 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 last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC raised its holdings in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Akamai Technologies during the fourth quarter valued at approximately $57,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AKAM has been the topic of a number of research reports. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Scotiabank dropped their price objective 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. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $112.00 to $100.00 in a research note on Friday, February 21st. Finally, Raymond James dropped their price objective 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 given 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 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.