Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Sells 5,000 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) EVP Paul C. Joseph sold 5,000 shares of Akamai Technologies stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the sale, the executive vice president directly owned 32,349 shares of the company's stock, valued at approximately $2,514,811.26. The trade was a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Akamai Technologies Stock Performance

Shares of AKAM stock traded up $0.89 during trading hours on Thursday, reaching $77.93. 1,202,025 shares of the company's stock were exchanged, compared to its average volume of 2,076,400. Akamai Technologies, Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $11.39 billion, a P/E ratio of 26.24, a P/E/G ratio of 2.43 and a beta of 0.77. The business has a fifty day moving average price of $78.04 and a 200-day moving average price of $83.26.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.64 EPS. The business's revenue was up 2.9% on a year-over-year basis. Analysts predict that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AKAM shares. Piper Sandler reaffirmed a "neutral" rating and set a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley decreased their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. KeyCorp started coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They set an "underweight" rating and a $63.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $101.25.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently added to or reduced their stakes in AKAM. WPG Advisers LLC bought a new stake in shares of Akamai Technologies in the 1st quarter worth approximately $27,000. UMB Bank n.a. increased its holdings in Akamai Technologies by 50.8% in the 2nd quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock valued at $32,000 after buying an additional 133 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after buying an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after acquiring an additional 234 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter valued at about $42,000. 94.28% of the stock is owned by institutional investors and hedge funds.

About Akamai Technologies

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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