Akamai Technologies, Inc. (NASDAQ:AKAM) CEO Acquires $2,997,778.60 in Stock

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

Akamai Technologies Trading Down 2.1 %

Shares of NASDAQ:AKAM traded down $1.71 during trading on Thursday, reaching $77.87. 3,707,669 shares of the company were exchanged, compared to its average volume of 2,565,188. The business’s fifty day simple moving average is $95.08 and its 200-day simple moving average is $97.55. 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, Inc. has a 12-month low of $75.50 and a 12-month high of $113.36. The firm has a market capitalization of $11.70 billion, a PE ratio of 23.89, a P/E/G ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AKAM shares. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. Raymond James lowered their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Royal Bank of Canada dropped their price target on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Finally, Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.55.

Institutional Trading of Akamai Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% during the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after purchasing an additional 234 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC increased its holdings in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Akamai Technologies in the fourth quarter worth approximately $57,000. 94.28% of the stock is currently owned by institutional investors.

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.