Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. The trade was a 13.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
AKAM stock traded down $0.92 during mid-day trading on Friday, hitting $87.43. The company had a trading volume of 2,616,613 shares, compared to its average volume of 1,664,409. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 3.36 and a beta of 0.68. Akamai Technologies, Inc. has a 12-month low of $86.78 and a 12-month high of $129.17. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $100.02 and a 200 day moving average price of $96.88.
A number of equities research analysts have commented on the company. Robert W. Baird reduced their price target on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday. Hsbc Global Res raised Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday. Tigress Financial reissued a "strong-buy" rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. DA Davidson reissued a "buy" rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Guggenheim raised Akamai Technologies from a "neutral" rating to a "buy" rating and set a $128.00 price objective on the stock in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $117.47.
Read Our Latest Stock Analysis on Akamai Technologies
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Akamai Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company's stock valued at $1,932,009,000 after buying an additional 124,359 shares in the last quarter. Earnest Partners LLC grew its holdings in Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company's stock valued at $191,966,000 after purchasing an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company's stock valued at $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Akamai Technologies by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company's stock valued at $127,105,000 after purchasing an additional 14,347 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company's stock valued at $147,308,000 after purchasing an additional 222,290 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Akamai Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Akamai Technologies wasn't on the list.
While Akamai Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.