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 Akamai Technologies stock in a transaction 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 transaction, the chief technology officer now owns 29,716 shares in the company, valued at approximately $2,141,929.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Akamai Technologies Stock Up 1.5 %

Shares of NASDAQ AKAM traded up $1.08 during trading hours on Friday, hitting $73.61. 4,859,616 shares of the stock were exchanged, compared to its average volume of 1,754,579. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.52. The company has a market cap of $11.50 billion, a PE ratio of 24.78, a PEG ratio of 1.68 and a beta of 0.78. The firm has a fifty day moving average price of $81.68 and a 200-day moving average price of $85.09. Akamai Technologies, Inc. has a 12 month low of $70.65 and a 12 month high of $123.25.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The technology infrastructure company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. The firm had revenue of $927.78 million during 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%. Akamai Technologies’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.26 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Clarius Group LLC raised its stake in shares of Akamai Technologies by 4.9% during the 2nd quarter. Clarius Group LLC now owns 2,454 shares of the technology infrastructure company’s stock worth $224,000 after acquiring an additional 115 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Akamai Technologies by 0.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,127 shares of the technology infrastructure company’s stock valued at $1,295,000 after purchasing an additional 121 shares in the last quarter. Cetera Investment Advisers increased its stake in Akamai Technologies by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 2,913 shares of the technology infrastructure company’s stock valued at $266,000 after purchasing an additional 124 shares in the last quarter. IFP Advisors Inc increased its stake in Akamai Technologies by 2.4% during the 4th quarter. IFP Advisors Inc now owns 5,421 shares of the technology infrastructure company’s stock valued at $112,000 after purchasing an additional 126 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its stake in Akamai Technologies by 47.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 397 shares of the technology infrastructure company’s stock valued at $33,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 90.41% of the company’s stock.

Analyst Upgrades and Downgrades

AKAM has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Akamai Technologies in a research note on Thursday. They set a “buy” rating on the stock. Loop Capital dropped their price target on shares of Akamai Technologies from $91.00 to $79.00 and set a “hold” rating on the stock in a research note on Wednesday, March 1st. Tigress Financial dropped their price target on shares of Akamai Technologies from $168.00 to $132.00 in a research note on Wednesday, December 7th. Royal Bank of Canada cut shares of Akamai Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $100.00 to $85.00 in a research note on Wednesday, February 15th. Finally, Guggenheim began coverage on shares of Akamai Technologies in a research note on Monday, January 23rd. They set a “sell” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.