Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon Sells 6,431 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the transaction, the chief operating officer now directly owns 14,239 shares of the company’s stock, valued at approximately $1,146,097.11. This trade represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Akamai Technologies Price Performance

AKAM stock opened at $82.82 on Thursday. The firm has a market cap of $12.45 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.74 and a beta of 0.68. The firm’s fifty day moving average is $93.55 and its 200 day moving average is $96.87. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $113.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Research analysts predict that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AKAM. UBS Group assumed coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Raymond James lowered their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Susquehanna reduced their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given 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 an average price target of $107.55.

Institutional Trading of Akamai Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AKAM. Farther Finance Advisors LLC grew its holdings in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after buying an additional 234 shares during the period. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies in the 4th quarter worth $49,000. Bruce G. Allen Investments LLC increased its position in shares of Akamai Technologies by 38.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $57,000. 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.