Insider Selling: Akamai Technologies, Inc. (NASDAQ:AKAM) Director Sells 1,000 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $93.86 on Friday. The stock has a fifty day simple moving average of $98.83 and a 200-day simple moving average of $96.25. 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 stock has a market cap of $14.10 billion, a PE ratio of 27.77, a P/E/G ratio of 3.60 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. TD Cowen upped their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird decreased their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after acquiring an additional 347,626 shares during the last quarter. Geode Capital Management LLC raised its position in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the period. Empyrean Capital Partners LP acquired a new position in Akamai Technologies during the second quarter worth $15,314,000. Renaissance Technologies LLC boosted its position in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after buying an additional 162,700 shares during the period. Finally, Distillate Capital Partners LLC acquired a new stake in shares of Akamai Technologies in the second quarter valued at $14,130,000. 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.