Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe Sells 2,000 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the transaction, the chief technology officer now owns 15,609 shares of the company’s stock, valued at approximately $1,739,935.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Akamai Technologies Stock Performance

AKAM stock opened at $112.37 on Friday. Akamai Technologies, Inc. has a 12-month low of $70.65 and a 12-month high of $112.79. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.82. The stock’s 50 day simple moving average is $106.79 and its 200 day simple moving average is $97.90. The firm has a market cap of $16.95 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.59 and a beta of 0.77.

Institutional Investors Weigh In On Akamai Technologies

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in Akamai Technologies by 47.2% in the third quarter. Creative Planning now owns 246,839 shares of the technology infrastructure company’s stock worth $26,298,000 after buying an additional 79,187 shares during the period. Tudor Investment Corp Et Al acquired a new stake in Akamai Technologies in the third quarter worth $3,212,000. Ramirez Asset Management Inc. acquired a new stake in Akamai Technologies in the third quarter worth $173,000. Mercer Global Advisors Inc. ADV increased its position in Akamai Technologies by 11.6% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,394 shares of the technology infrastructure company’s stock worth $1,747,000 after buying an additional 1,700 shares during the period. Finally, Toroso Investments LLC increased its position in Akamai Technologies by 3.9% in the third quarter. Toroso Investments LLC now owns 12,395 shares of the technology infrastructure company’s stock worth $1,321,000 after buying an additional 460 shares during the period. 91.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. KeyCorp upped their price target on Akamai Technologies from $120.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a research note on Thursday, August 10th. Evercore ISI increased their target price on Akamai Technologies from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Tigress Financial reiterated a “strong-buy” rating and set a $132.00 target price on shares of Akamai Technologies in a research note on Wednesday, September 20th. Finally, TD Cowen increased their target price on Akamai Technologies from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $109.72.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.