Insider Buying: Akamai Technologies, Inc. (NASDAQ:AKAM) CEO Buys 288 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) CEO F Thomson Leighton purchased 288 shares of the stock in a transaction dated Wednesday, May 24th. The stock was purchased at an average price of $86.96 per share, for a total transaction of $25,044.48. Following the completion of the acquisition, the chief executive officer now directly owns 87,377 shares in the company, valued at approximately $7,598,303.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

F Thomson Leighton also recently made the following trade(s):

• On Friday, May 26th, F Thomson Leighton acquired 280 shares of Akamai Technologies stock. The stock was bought at an average cost of $89.39 per share, with a total value of $25,029.20.
• On Monday, May 22nd, F Thomson Leighton acquired 286 shares of Akamai Technologies stock. The stock was bought at an average cost of $87.52 per share, with a total value of $25,030.72.
• On Friday, May 19th, F Thomson Leighton acquired 285 shares of Akamai Technologies stock. The stock was bought at an average cost of $87.86 per share, with a total value of $25,040.10.
• On Wednesday, May 17th, F Thomson Leighton acquired 288 shares of Akamai Technologies stock. The stock was bought at an average cost of $87.00 per share, with a total value of $25,056.00.
• On Monday, May 15th, F Thomson Leighton acquired 293 shares of Akamai Technologies stock. The stock was bought at an average cost of $85.33 per share, with a total value of $25,001.69.
• On Friday, May 5th, F Thomson Leighton purchased 323 shares of Akamai Technologies stock. The shares were acquired at an average cost of $77.53 per share, with a total value of $25,042.19.
• On Wednesday, May 3rd, F Thomson Leighton purchased 315 shares of Akamai Technologies stock. The shares were acquired at an average cost of $79.44 per share, with a total value of $25,023.60.
• On Monday, May 1st, F Thomson Leighton purchased 306 shares of Akamai Technologies stock. The shares were acquired at an average cost of $81.93 per share, with a total value of $25,070.58.
• On Friday, April 28th, F Thomson Leighton bought 308 shares of Akamai Technologies stock. The shares were purchased at an average cost of $81.41 per share, with a total value of $25,074.28.
• On Wednesday, April 26th, F Thomson Leighton bought 315 shares of Akamai Technologies stock. The shares were purchased at an average cost of $79.47 per share, with a total value of $25,033.05.

Akamai Technologies Trading Up 1.7 %

NASDAQ:AKAM traded up $1.51 on Friday, reaching $90.57. 1,177,212 shares of the company’s stock were exchanged, compared to its average volume of 1,588,988. Akamai Technologies, Inc. has a 52-week low of $70.65 and a 52-week high of $102.83. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 1.96 and a beta of 0.81. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $80.76 and a 200-day moving average of $83.52.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The technology infrastructure company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. Akamai Technologies had a return on equity of 14.63% and a net margin of 12.50%. The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $912.13 million. During the same period in the previous year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts expect that Akamai Technologies, Inc. will post 4.48 earnings per share for the current year.

Analysts Set New Price Targets

AKAM has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on shares of Akamai Technologies from $100.00 to $105.00 in a research note on Wednesday, May 10th. Piper Sandler raised shares of Akamai Technologies from a “neutral” rating to an “overweight” rating and set a $93.00 target price on the stock in a research note on Monday, April 10th. StockNews.com started coverage on shares of Akamai Technologies in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Loop Capital lowered their target price 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. Finally, Robert W. Baird lifted their target price on shares of Akamai Technologies from $89.00 to $94.00 in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.06.

Hedge Funds Weigh In On Akamai Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AKAM. Norges Bank acquired a new position in shares of Akamai Technologies during the fourth quarter worth about $77,273,000. Arrowstreet Capital Limited Partnership boosted its holdings in Akamai Technologies by 59.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,095,168 shares of the technology infrastructure company’s stock valued at $164,052,000 after purchasing an additional 785,055 shares in the last quarter. First Trust Advisors LP boosted its holdings in Akamai Technologies by 21.8% in the first quarter. First Trust Advisors LP now owns 4,194,752 shares of the technology infrastructure company’s stock valued at $328,449,000 after purchasing an additional 749,933 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Akamai Technologies by 254.5% in the first quarter. AQR Capital Management LLC now owns 854,763 shares of the technology infrastructure company’s stock valued at $65,817,000 after purchasing an additional 613,612 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC boosted its holdings in Akamai Technologies by 230.1% in the third quarter. Bain Capital Public Equity Management II LLC now owns 782,504 shares of the technology infrastructure company’s stock valued at $62,851,000 after purchasing an additional 545,464 shares in the last quarter. 90.41% of the stock is owned by institutional investors and hedge funds.

About Akamai Technologies

(Get Rating)

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.