Robert Blumofe Sells 2,500 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the sale, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Akamai Technologies Stock Performance

AKAM opened at $87.43 on Friday. The firm has a market capitalization of $13.13 billion, a PE ratio of 25.87, a PEG ratio of 3.36 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a twelve month low of $86.78 and a twelve month high of $129.17. The firm’s 50-day moving average price is $99.84 and its 200 day moving average price is $96.76.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AKAM shares. TD Cowen upped their target price on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Tigress Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.47.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its stake in shares of Akamai Technologies by 14.3% in the 1st quarter. Empowered Funds LLC now owns 3,115 shares of the technology infrastructure company’s stock worth $339,000 after acquiring an additional 390 shares during the last quarter. QRG Capital Management Inc. raised its stake in Akamai Technologies by 27.0% during the first quarter. QRG Capital Management Inc. now owns 7,878 shares of the technology infrastructure company’s stock worth $857,000 after purchasing an additional 1,677 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Akamai Technologies by 9.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,516 shares of the technology infrastructure company’s stock valued at $274,000 after purchasing an additional 221 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Akamai Technologies by 11.9% during the 1st quarter. ProShare Advisors LLC now owns 31,917 shares of the technology infrastructure company’s stock worth $3,471,000 after buying an additional 3,384 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in Akamai Technologies by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after acquiring an additional 28,304 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.