Mani Sundaram Sells 16,059 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) EVP Mani Sundaram sold 16,059 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $117.92, for a total value of $1,893,677.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NASDAQ AKAM opened at $118.01 on Tuesday. The stock’s 50-day simple moving average is $112.61 and its 200-day simple moving average is $111.37. The firm has a market capitalization of $18.99 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.43 and a current ratio of 2.43. Akamai Technologies, Inc. has a fifty-two week low of $96.86 and a fifty-two week high of $122.01.

Akamai Technologies (NASDAQ:AKAMGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The firm had revenue of $905.36 million for the quarter, compared to the consensus estimate of $898.83 million. Akamai Technologies had a return on equity of 17.37% and a net margin of 18.83%. During the same quarter last year, the business posted $1.06 EPS. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.8 earnings per share for the current fiscal year.

AKAM has been the topic of several research reports. Citigroup decreased their target price on Akamai Technologies from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 16th. JPMorgan Chase & Co. lowered Akamai Technologies from a “neutral” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Tuesday, December 14th. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $133.00 to $127.00 in a research report on Wednesday, January 5th. Tigress Financial increased their price target on Akamai Technologies from $157.00 to $168.00 in a research report on Wednesday, January 26th. Finally, DA Davidson reduced their price target on Akamai Technologies from $143.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $132.55.

Several hedge funds have recently made changes to their positions in the business. Lombard Odier Asset Management Europe Ltd grew its stake in shares of Akamai Technologies by 10,159.2% in the 4th quarter. Lombard Odier Asset Management Europe Ltd now owns 54,504,000 shares of the technology infrastructure company’s stock valued at $63,892,000 after purchasing an additional 53,972,730 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Akamai Technologies by 112.4% in the 3rd quarter. Nordea Investment Management AB now owns 11,393,373 shares of the technology infrastructure company’s stock valued at $1,215,787,000 after purchasing an additional 6,028,007 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Akamai Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,243,983 shares of the technology infrastructure company’s stock valued at $378,851,000 after purchasing an additional 57,576 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Akamai Technologies by 1.9% in the 4th quarter. Mackenzie Financial Corp now owns 2,267,733 shares of the technology infrastructure company’s stock valued at $265,415,000 after purchasing an additional 42,697 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Akamai Technologies by 15.8% in the 4th quarter. Alliancebernstein L.P. now owns 2,259,687 shares of the technology infrastructure company’s stock valued at $264,474,000 after buying an additional 308,711 shares during the period. Institutional investors own 89.58% of the company’s stock.

About Akamai Technologies (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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