Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Sells 2,500 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $87.43 on Friday. The company has a fifty day moving average of $99.84 and a two-hundred day moving average of $96.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.32. Akamai Technologies, Inc. has a 1 year low of $86.78 and a 1 year high of $129.17. The company has a market capitalization of $13.13 billion, a PE ratio of 25.87, a P/E/G ratio of 3.36 and a beta of 0.68.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC grew its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the last quarter. Versant Capital Management Inc grew its position in Akamai Technologies by 170.8% during the 2nd 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 position in Akamai Technologies in the second quarter valued at $28,000. EntryPoint Capital LLC acquired a new position in Akamai Technologies in the first quarter valued at $31,000. Finally, Family Firm Inc. purchased a new stake in shares of Akamai Technologies in the second quarter valued at about $35,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AKAM. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, November 11th. Finally, Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

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.