Adam Karon Sells 8,394 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAMGet Free Report) COO Adam Karon sold 8,394 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Akamai Technologies Trading Down 0.1 %

NASDAQ:AKAM opened at $107.79 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. Akamai Technologies, Inc. has a 52 week low of $72.86 and a 52 week high of $129.17. The firm has a 50-day moving average price of $116.01 and a two-hundred day moving average price of $112.47.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last released its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same period in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ancora Advisors LLC boosted its holdings 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 buying an additional 127 shares during the period. Planned Solutions Inc. purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $37,000. Belpointe Asset Management LLC lifted its stake in Akamai Technologies by 50.1% in the 1st quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock worth $40,000 after purchasing an additional 170 shares in the last quarter. Headinvest LLC purchased a new stake in Akamai Technologies in the 3rd quarter worth approximately $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Akamai Technologies in the 4th quarter worth approximately $43,000. 91.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AKAM. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Wednesday, February 14th. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. increased their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Finally, Susquehanna started coverage on shares of Akamai Technologies in a report on Friday, December 15th. They set a “positive” rating and a $150.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.50.

View Our Latest Report on Akamai Technologies

Akamai Technologies Company Profile

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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.

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