Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells $924,293.16 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the completion of the sale, the executive vice president now owns 23,988 shares of the company’s stock, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $87.52 on Monday. The firm’s 50-day moving average is $93.06 and its two-hundred day moving average is $96.60. Akamai Technologies, Inc. has a 12 month low of $75.50 and a 12 month high of $113.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company has a market capitalization of $13.16 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released 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). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Hedge Funds Weigh In On Akamai Technologies

Large investors have recently modified their holdings of the business. Siemens Fonds Invest GmbH acquired a new position in Akamai Technologies in the fourth quarter valued at about $2,455,000. Capital A Wealth Management LLC purchased a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $367,000. Mackenzie Financial Corp lifted its holdings in shares of Akamai Technologies by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock worth $232,198,000 after acquiring an additional 81,744 shares during the last quarter. Forum Financial Management LP acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $252,000. Finally, Woodline Partners LP purchased a new position in shares of Akamai Technologies during the 4th quarter worth approximately $458,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup cut their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Royal Bank of Canada cut their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Susquehanna decreased their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Scotiabank cut their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. Finally, HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $107.55.

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.