Edward J. Mcgowan Sells 10,782 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Akamai Technologies Stock Up 0.1 %

AKAM stock opened at $97.36 on Wednesday. The firm has a market cap of $14.63 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.83 and a beta of 0.65. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The firm has a fifty day moving average price of $98.04 and a two-hundred day moving average price of $96.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently modified their holdings of AKAM. Farther Finance Advisors LLC boosted its stake in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Innealta Capital LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $28,000. Family Firm Inc. acquired a new position in Akamai Technologies during the 2nd quarter valued at approximately $35,000. Eastern Bank bought a new position in Akamai Technologies during the 3rd quarter worth $71,000. Finally, Covestor Ltd grew its stake in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of several research reports. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Scotiabank lowered their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $116.85.

About Akamai Technologies

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.