Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Paul C. Joseph Sells 5,000 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president owned 32,349 shares in the company, valued at approximately $2,514,811.26. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Akamai Technologies Price Performance

AKAM opened at $78.21 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Akamai Technologies, Inc. has a 52-week low of $67.51 and a 52-week high of $106.80. The company has a 50 day moving average of $78.04 and a two-hundred day moving average of $83.26. The company has a market cap of $11.44 billion, a P/E ratio of 26.37, a P/E/G ratio of 2.43 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. Akamai Technologies’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 earnings per share. On average, analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Scotiabank reduced their target price on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 price objective on the stock. KeyCorp assumed coverage on shares of Akamai Technologies in a report on Friday, June 6th. They issued an “underweight” rating and a $63.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. WPG Advisers LLC purchased a new position in shares of Akamai Technologies in the first quarter valued at $27,000. UMB Bank n.a. raised its holdings in Akamai Technologies by 50.8% in the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock valued at $32,000 after acquiring an additional 133 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Akamai Technologies by 54.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock valued at $35,000 after acquiring an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after acquiring an additional 234 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Akamai Technologies in the first quarter valued at $42,000. 94.28% of the stock is currently owned by hedge funds and other 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.