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 that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Akamai Technologies Stock Down 2.0 %

Shares of NASDAQ AKAM traded down $1.94 during mid-day trading on Monday, hitting $97.30. The company had a trading volume of 1,003,667 shares, compared to its average volume of 1,672,273. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $98.19 and a two-hundred day simple moving average of $96.57. The company has a market capitalization of $14.62 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $129.17.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group assumed coverage on Akamai Technologies in a report on Monday. They set a “neutral” rating and a $110.00 price objective for the company. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Scotiabank dropped their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. 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, six have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $117.21.

Institutional Trading of Akamai Technologies

A number of large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in 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 purchasing an additional 114 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Akamai Technologies in the second quarter valued at about $28,000. Family Firm Inc. acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth about $35,000. Eastern Bank bought a new stake in shares of Akamai Technologies during the 3rd quarter worth about $71,000. Finally, Covestor Ltd grew its stake in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.