Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe Sells 2,500 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, June 14th, Robert Blumofe sold 3,000 shares of Akamai Technologies stock. The stock was sold at an average price of $88.34, for a total transaction of $265,020.00.

Akamai Technologies Stock Down 0.4 %

NASDAQ AKAM opened at $100.50 on Monday. Akamai Technologies, Inc. has a 1-year low of $87.59 and a 1-year high of $129.17. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $93.46 and its two-hundred day moving average is $101.06. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 4.57 and a beta of 0.67.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same quarter in the previous year, the firm earned $1.01 EPS. Akamai Technologies’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Akamai Technologies, Inc. will post 4.38 earnings per share for the current fiscal year.

Akamai Technologies declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 9th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology infrastructure company to purchase up to 13.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors have recently added to or reduced their stakes in AKAM. Systematic Financial Management LP raised its stake in shares of Akamai Technologies by 52.7% in the second quarter. Systematic Financial Management LP now owns 4,910 shares of the technology infrastructure company’s stock valued at $442,000 after acquiring an additional 1,695 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in Akamai Technologies by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares in the last quarter. Creative Planning raised its position in Akamai Technologies by 0.9% in the 2nd quarter. Creative Planning now owns 106,970 shares of the technology infrastructure company’s stock valued at $9,636,000 after purchasing an additional 980 shares during the last quarter. MBB Public Markets I LLC boosted its stake in Akamai Technologies by 335.0% in the second quarter. MBB Public Markets I LLC now owns 10,819 shares of the technology infrastructure company’s stock worth $975,000 after purchasing an additional 8,332 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after purchasing an additional 28,135 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Morgan Stanley cut their price target on Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Citigroup lowered their price objective on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research note on Thursday. Finally, DA Davidson restated a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.00.

Akamai Technologies Company Profile

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.