Paul C. Joseph Sells 4,000 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Akamai Technologies Trading Up 1.3 %

AKAM opened at $98.53 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies, Inc. has a one year low of $87.59 and a one year high of $129.17. The company has a market cap of $14.93 billion, a P/E ratio of 24.51, a PEG ratio of 3.10 and a beta of 0.68. The business’s 50-day simple moving average is $97.60 and its 200-day simple moving average is $98.76.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities research analysts expect that Akamai Technologies, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Piper Sandler reduced their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. TD Cowen lifted their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Guggenheim upgraded shares of 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.47.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $28,000. EntryPoint Capital LLC purchased a new position in Akamai Technologies during the 1st quarter worth approximately $31,000. Family Firm Inc. acquired a new position in Akamai Technologies during the second quarter worth approximately $35,000. Finally, Covestor Ltd lifted its stake in Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 310 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.