Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe Sells 4,000 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) CTO Robert Blumofe sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $72.08, for a total transaction of $288,320.00. Following the completion of the sale, the chief technology officer now directly owns 29,716 shares in the company, valued at $2,141,929.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Akamai Technologies Trading Up 1.5 %

NASDAQ AKAM opened at $73.61 on Friday. The company’s fifty day simple moving average is $81.68 and its 200-day simple moving average is $85.04. The stock has a market cap of $11.50 billion, a P/E ratio of 24.78, a PEG ratio of 1.69 and a beta of 0.78. Akamai Technologies, Inc. has a 52 week low of $70.65 and a 52 week high of $123.25. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $927.78 million for the quarter, compared to analyst estimates of $904.80 million. Akamai Technologies had a net margin of 13.15% and a return on equity of 15.12%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Equities research analysts predict that Akamai Technologies, Inc. will post 4.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AKAM. Zions Bancorporation N.A. grew its position in shares of Akamai Technologies by 73.7% during the third 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 in the last quarter. Ancora Advisors LLC boosted its stake in Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 127 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Akamai Technologies by 625.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter worth about $29,000. Finally, General Partner Inc. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at about $31,000. 90.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AKAM. Loop Capital decreased their price target on shares of Akamai Technologies from $91.00 to $79.00 and set a “hold” rating on the stock in a report on Wednesday, March 1st. Royal Bank of Canada downgraded Akamai Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $100.00 to $85.00 in a research report on Wednesday, February 15th. Guggenheim began coverage on Akamai Technologies in a report on Monday, January 23rd. They issued a “sell” rating and a $75.00 price objective on the stock. Tigress Financial reduced their price objective on Akamai Technologies from $168.00 to $132.00 in a research note on Wednesday, December 7th. Finally, Cowen cut their price target on shares of Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.