Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Kim Salem-Jackson Sells 13,157 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the sale, the executive vice president now owns 43,575 shares in the company, valued at $3,326,079.75. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Akamai Technologies Trading Down 0.6%

NASDAQ AKAM traded down $0.43 during trading on Friday, hitting $75.66. The stock had a trading volume of 3,105,149 shares, compared to its average volume of 2,012,402. The company has a market capitalization of $11.06 billion, a PE ratio of 23.21, a PEG ratio of 2.74 and a beta of 0.82. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $77.35 and a 200 day moving average price of $87.09. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. 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 company posted $1.64 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AKAM. Norges Bank purchased a new position in Akamai Technologies in the fourth quarter worth $477,454,000. Alyeska Investment Group L.P. raised its position in Akamai Technologies by 1,001.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company's stock worth $141,149,000 after acquiring an additional 1,594,206 shares in the last quarter. First Trust Advisors LP raised its position in Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after acquiring an additional 690,341 shares in the last quarter. Vanguard Group Inc. raised its position in Akamai Technologies by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock worth $1,503,205,000 after acquiring an additional 425,461 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Akamai Technologies by 234.0% in the first quarter. Vontobel Holding Ltd. now owns 595,569 shares of the technology infrastructure company's stock valued at $47,943,000 after buying an additional 417,260 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup cut their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, Piper Sandler reissued a "neutral" rating and set a $88.00 price target (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.26.

Akamai Technologies Company Profile

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.