Akamai Technologies (NASDAQ:AKAM) Hits New 52-Week Low After Insider Selling

Akamai Technologies, Inc. (NASDAQ:AKAM)’s stock price hit a new 52-week low during trading on Friday after an insider sold shares in the company. The company traded as low as $87.13 and last traded at $87.28, with a volume of 602173 shares trading hands. The stock had previously closed at $88.35.

Specifically, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the sale, the executive vice president now directly owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the transaction, the chief technology officer now owns 19,510 shares of the company’s stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research firms have commented on AKAM. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of Akamai Technologies in a report on Thursday, August 15th. TD Cowen raised their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Robert W. Baird reduced their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, DA Davidson reiterated a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Trading Down 1.0 %

The stock’s 50 day simple moving average is $99.84 and its 200 day simple moving average is $96.76. The firm has a market cap of $13.13 billion, a PE ratio of 25.87, a PEG ratio of 3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc boosted its stake in Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC bought a new position in Akamai Technologies during the second quarter valued at approximately $28,000. EntryPoint Capital LLC purchased a new position in shares of Akamai Technologies during the first quarter worth approximately $31,000. Finally, Family Firm Inc. bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $35,000. Institutional investors own 94.28% of the company’s stock.

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.