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 business’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Akamai Technologies Trading Down 1.0 %

Shares of Akamai Technologies stock opened at $87.43 on Monday. The company has a market capitalization of $13.13 billion, a P/E ratio of 25.87, a P/E/G ratio of 3.33 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. The company has a fifty day moving average of $99.84 and a 200 day moving average of $96.73. Akamai Technologies, Inc. has a fifty-two week low of $86.78 and a fifty-two week high of $129.17.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AKAM. Empowered Funds LLC boosted its holdings in Akamai Technologies by 14.3% in the 1st quarter. Empowered Funds LLC now owns 3,115 shares of the technology infrastructure company’s stock worth $339,000 after buying an additional 390 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Akamai Technologies by 27.0% during the 1st quarter. QRG Capital Management Inc. now owns 7,878 shares of the technology infrastructure company’s stock valued at $857,000 after purchasing an additional 1,677 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Akamai Technologies by 9.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,516 shares of the technology infrastructure company’s stock valued at $274,000 after purchasing an additional 221 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Akamai Technologies by 11.9% during the 1st quarter. ProShare Advisors LLC now owns 31,917 shares of the technology infrastructure company’s stock valued at $3,471,000 after purchasing an additional 3,384 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Akamai Technologies by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after purchasing an additional 28,304 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AKAM shares. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $125.00 in a research note on Friday, August 9th. TD Cowen boosted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Finally, Robert W. Baird decreased their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $117.47.

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.