Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Sells $221,525.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Akamai Technologies Stock Down 1.0 %

AKAM stock opened at $87.43 on Friday. The stock has a fifty day moving average of $99.84 and a 200-day moving average of $96.78. Akamai Technologies, Inc. has a fifty-two week low of $86.78 and a fifty-two week high of $129.17. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.33.

Analysts Set New Price Targets

AKAM has been the topic of a number of recent research reports. Guggenheim upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, July 29th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Robert W. Baird reduced their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Versant Capital Management Inc grew its stake in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC bought a new stake in Akamai Technologies during the 2nd quarter valued at $28,000. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies during the first quarter worth $31,000. Finally, Family Firm Inc. bought a new position in shares of Akamai Technologies in the second quarter worth $35,000. Institutional investors own 94.28% of the company’s stock.

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.