Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) COO Sells $485,133.60 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon sold 5,628 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 24,597 shares of the company’s stock, valued at approximately $2,120,261.40. This trade represents a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

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

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $79.66 on Thursday. The business has a 50 day moving average of $92.21 and a 200-day moving average of $96.21. The company has a market capitalization of $11.97 billion, a P/E ratio of 24.44, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for 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%. On average, equities research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AKAM. Susquehanna decreased their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $112.00 to $100.00 in a report on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.55.

Institutional Trading of Akamai Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Akamai Technologies by 85.7% in the 3rd 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. lifted its holdings in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after buying an additional 234 shares during the period. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies during the fourth quarter valued at $49,000. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies in the 4th quarter worth about $57,000. Institutional investors and hedge funds 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.