AKAM CTO Blumofe Sells 4k Shares 1

Institutional investors have recently been adjusting their stakes in Akamai Technologies, with Vanguard Group Inc. increasing its holdings by 0.4%, and Legal & General Group Plc and First Trust Advisors LP also adding shares. Akamai Technologies is a cloud service provider that delivers, optimizes, and secures content and business applications over the Internet. The company’s products include web performance, security, media delivery, and network operator. Despite mixed analyst ratings, the company has a consensus price target of $100.63.

Robert Blumofe Sells 4,000 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies logo

Akamai Technologies, Inc. (NASDAQ:AKAM) Chief Technology Officer, Robert Blumofe, sold 4,000 shares of the company’s stock on March 15th at an average price. This news has garnered attention on Wall Street as it may impact the company’s stock performance.

Akamai Technologies Stock Performance

Akamai Technologies’ stock, listed as NASDAQ:AKAM, opened at $73.61 on Friday. The market capitalization of the company is $11.50 billion, with a price-to-earnings ratio of 24.78, a PEG ratio of 1.69, and a beta of 0.78. The company’s 50-day and 200-day moving averages are $81.68 and $85.04, respectively. Akamai Technologies, Inc. has a 12-month low of $70.65 and a 12-month high of $123.25. The company has a current ratio of 2.41, a quick ratio of 2.41, and a debt-to-equity ratio of 0.52.

Akamai Technologies’ Quarterly Earnings Data

Insider Buying and Selling by Quarter for Akamai Technologies (NASDAQ:AKAM)

On February 14th, Akamai Technologies released its quarterly earnings data, where it reported $1.37 earnings per share, beating analysts’ consensus estimates of $1.26 by $0.11. The company had a return on equity of 15.12% and a net margin of 13.15%. Its quarterly revenue was $927.78 million, up 2.5% from the same period last year. Analysts predict that the company will post 4.26 EPS for the current year.

Wall Street Analyst Weigh In

There has been no news of Wall Street analysts weighing in on this development yet.

AKAM Receives Mixed Ratings from Research Reports

Akamai Technologies (AKAM) has been the subject of various research reports, with mixed ratings from analysts. Loop Capital lowered its price target on AKAM from $91.00 to $79.00 and gave the stock a “hold” rating. On the other hand, StockNews.com initiated coverage on AKAM with a “buy” rating. Cowen also cut its target price on AKAM from $137.00 to $105.00, giving the stock an “outperform” rating. Meanwhile, Guggenheim initiated coverage on AKAM with a “sell” rating and a $75.00 price target. Tigress Financial also lowered its price objective on AKAM from $168.00 to $132.00. Currently, one analyst rates AKAM as a sell, six rate it as a hold, and six rate it as a buy, with an average rating of “hold” and a consensus price target of $100.63.

Institutional Trading of Akamai Technologies

There is currently no news available on institutional trading of Akamai Technologies.

Institutional Investors Adjust Stakes in AKAM

Institutional investors have been making changes to their positions in Akamai Technologies (AKAM) stock. Vanguard Group Inc. added 64,523 shares during the third quarter, increasing its holdings by 0.4%. The firm now owns 17,936,754 shares worth $1,440,680,000. First Trust Advisors LP increased its position in AKAM by 6.0% during the third quarter, acquiring 220,080 additional shares, bringing its total holdings to 3,895,817 shares worth $312,911,000. Geode Capital Management LLC also raised its stake in AKAM by 1.2% in the fourth quarter, acquiring an additional 42,525 shares, taking its total holdings to 3,502,193 shares worth $294,885,000. Legal & General Group Plc grew its stake by 5.8% in the second quarter, acquiring 149,461 shares and owning 2,737,721 shares valued at $250,036,000. Mackenzie Financial Corp increased its holdings by 3.0% in the fourth quarter, acquiring an additional 64,041 shares, and now owns 2,217,918 shares valued at $186,970,000. According to MarketBeat.com, hedge funds and other institutional investors hold 90.41% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc is a cloud service provider that delivers, optimizes, and secures content and business applications over the Internet. Its products include web performance, security, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, and Randall S.

Further Reading

For those who wish to stay updated with the latest news and analyst ratings, they can sign up for MarketBeat.com’s FREE daily email newsletter.

Don’t miss interesting posts on Famousbio

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Medtronic plc gets $397K investment

Medtronic is a global medical technology company that provides device-based medical therapies…

Spotify’s India Expansion Unveiled

Spotify, the largest audio streaming service, is expanding its operations and ad…

Cutting-Edge Lawn Mowing Service.

Andrew’s Lawn Service has launched their new website, andrewslawns.com, featuring a revolutionary…

Actylis: Leading the Chemical Industry

Actylis, a global manufacturer and sourcing expert of critical raw materials and…