Robert Blumofe Sells 5,000 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.68, for a total value of $488,400.00. Following the transaction, the chief technology officer now directly owns 19,725 shares in the company, valued at approximately $1,926,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Blumofe also recently made the following trade(s):

  • On Friday, April 8th, Robert Blumofe sold 3,308 shares of Akamai Technologies stock. The stock was sold at an average price of $119.19, for a total value of $394,280.52.
  • On Tuesday, March 8th, Robert Blumofe sold 8,000 shares of Akamai Technologies stock. The stock was sold at an average price of $109.15, for a total value of $873,200.00.

Shares of NASDAQ:AKAM opened at $98.67 on Friday. The business’s 50 day simple moving average is $113.55 and its 200-day simple moving average is $112.20. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.89 and a beta of 0.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.68 and a quick ratio of 2.43. Akamai Technologies, Inc. has a 12 month low of $93.74 and a 12 month high of $123.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The technology infrastructure company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $903.65 million for the quarter, compared to analysts’ expectations of $904.89 million. Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. Akamai Technologies’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. On average, equities analysts anticipate that Akamai Technologies, Inc. will post 4.32 earnings per share for the current year.

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Akamai Technologies from $130.00 to $118.00 in a report on Wednesday, May 4th. Piper Sandler lowered their price target on Akamai Technologies from $126.00 to $118.00 in a report on Wednesday, May 4th. Robert W. Baird lowered Akamai Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $102.00 in a report on Wednesday, May 4th. Citigroup lowered their price objective on Akamai Technologies from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Finally, Tigress Financial lifted their price objective on Akamai Technologies from $157.00 to $168.00 in a report on Wednesday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Hold” and a consensus target price of $127.50.

Hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ increased its position in Akamai Technologies by 0.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 27,821 shares of the technology infrastructure company’s stock worth $3,259,000 after buying an additional 89 shares in the last quarter. Mutual of America Capital Management LLC increased its position in Akamai Technologies by 0.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 21,458 shares of the technology infrastructure company’s stock worth $2,511,000 after purchasing an additional 93 shares in the last quarter. Appleton Partners Inc. MA raised its stake in Akamai Technologies by 2.2% in the 4th quarter. Appleton Partners Inc. MA now owns 4,415 shares of the technology infrastructure company’s stock valued at $517,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Akamai Technologies by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the technology infrastructure company’s stock valued at $1,194,000 after purchasing an additional 100 shares in the last quarter. Finally, Baystate Wealth Management LLC boosted its stake in shares of Akamai Technologies by 33.3% during the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 100 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

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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