Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells $448,749.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) EVP Anthony P. Williams sold 6,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $71.23, for a total transaction of $448,749.00. Following the completion of the transaction, the executive vice president now owns 13,992 shares of the company’s stock, valued at $996,650.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $71.83 on Wednesday. Akamai Technologies, Inc. has a 12 month low of $70.65 and a 12 month high of $123.25. The stock has a market cap of $11.23 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $82.71 and its 200-day moving average price is $85.54.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its earnings results on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Akamai Technologies had a net margin of 13.15% and a return on equity of 15.12%. The firm had revenue of $927.78 million for the quarter, compared to analysts’ expectations of $904.80 million. During the same quarter in the previous year, the business posted $1.26 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC boosted its stake in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Zions Bancorporation N.A. raised its position in Akamai Technologies by 73.7% in the 3rd quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 132 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Akamai Technologies in the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. raised its position in Akamai Technologies by 625.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, General Partner Inc. purchased a new position in Akamai Technologies in the 4th quarter worth about $31,000. Institutional investors own 90.41% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of recent analyst reports. Royal Bank of Canada downgraded shares of Akamai Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $100.00 to $85.00 in a research note on Wednesday, February 15th. Cowen lowered their target price on shares of Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 15th. Guggenheim initiated coverage on shares of Akamai Technologies in a research note on Monday, January 23rd. They set a “sell” rating and a $75.00 price target on the stock. Piper Sandler decreased their price target on shares of Akamai Technologies to $93.00 in a research note on Tuesday, November 15th. Finally, Evercore ISI decreased their price target on shares of Akamai Technologies to $105.00 in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.63.

Akamai Technologies Company Profile

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Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.