Insider Buying: Akamai Technologies, Inc. (NASDAQ:AKAM) CEO Acquires 37,670 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Akamai Technologies Stock Down 2.1 %

Akamai Technologies stock opened at $77.87 on Friday. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.74 and a beta of 0.65. The firm has a fifty day moving average price of $94.74 and a two-hundred day moving average price of $97.41. Akamai Technologies, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $113.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AKAM shares. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Robert W. Baird dropped their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Raymond James cut their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a 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 assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds have recently made changes to their positions in the stock. Capital A Wealth Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $367,000. Mackenzie Financial Corp raised its stake in shares of Akamai Technologies by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock valued at $232,198,000 after purchasing an additional 81,744 shares in the last quarter. Forum Financial Management LP bought a new position in Akamai Technologies in the fourth quarter worth $252,000. Woodline Partners LP acquired a new stake in Akamai Technologies during the fourth quarter worth $458,000. Finally, Two Sigma Advisers LP increased its holdings in Akamai Technologies by 23.5% in the 4th quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company’s stock valued at $7,547,000 after buying an additional 15,000 shares during the period. Institutional investors 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.