Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) CFO Edward J. Mcgowan sold 4,652 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at approximately $2,984,424.80. The trade was a 11.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Akamai Technologies Stock Down 3.9 %
Akamai Technologies stock opened at $84.15 on Tuesday. The stock has a market cap of $12.65 billion, a P/E ratio of 25.81, a P/E/G ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $111.79. The company's 50-day moving average price is $92.83 and its two-hundred day moving average price is $96.48.
Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. As a group, analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in AKAM. Norges Bank acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $477,454,000. First Trust Advisors LP grew its position in shares of Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service grew its position in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after purchasing an additional 273,043 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company's stock worth $74,473,000 after purchasing an additional 235,394 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Bank of America cut shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Evercore ISI reissued an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Needham & Company LLC reissued a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Finally, Craig Hallum cut shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.55.
Get Our Latest Analysis on Akamai Technologies
About Akamai Technologies
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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.
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