Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram Sells 10,683 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Mani Sundaram sold 10,683 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Akamai Technologies Trading Up 5.7 %

Shares of NASDAQ AKAM traded up $4.71 during midday trading on Friday, hitting $87.52. The company’s stock had a trading volume of 4,499,374 shares, compared to its average volume of 2,715,985. The business’s 50 day moving average is $93.25 and its two-hundred day moving average is $96.77. Akamai Technologies, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The firm has a market cap of $13.16 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company 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%. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on AKAM. UBS Group started coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. Raymond James dropped their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company 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 price target for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.55.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position in 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 in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after buying an additional 234 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $49,000. Bruce G. Allen Investments LLC lifted its position in 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 acquiring an additional 155 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $57,000. 94.28% of the stock is currently owned by institutional investors.

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.