Insider Selling: Akamai Technologies (NASDAQ:AKAM) CTO Sells $301,000.00 in Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 3,500 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $86.00, for a total transaction of $301,000.00. Following the sale, the chief technology officer directly owned 24,410 shares of the company’s stock, valued at $2,099,260. This represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, August 22nd, Robert Blumofe sold 3,000 shares of Akamai Technologies stock. The stock was sold at an average price of $77.00, for a total value of $231,000.00.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $83.74 on Monday. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. Akamai Technologies, Inc. has a 52 week low of $67.51 and a 52 week high of $103.75. The firm has a 50 day moving average of $75.93 and a 200-day moving average of $77.27. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.22. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. On average, equities analysts forecast that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Institutional Trading of Akamai Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Opes Wealth Management LLC raised its holdings in Akamai Technologies by 2.7% during the first quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company’s stock worth $392,000 after purchasing an additional 128 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Akamai Technologies by 50.8% in the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock valued at $32,000 after buying an additional 133 shares during the period. Horizon Investments LLC boosted its stake in Akamai Technologies by 7.2% during the first quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company’s stock valued at $179,000 after buying an additional 149 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Akamai Technologies by 24.3% during the third quarter. Hantz Financial Services Inc. now owns 830 shares of the technology infrastructure company’s stock worth $63,000 after acquiring an additional 162 shares during the period. Finally, HighPoint Advisor Group LLC raised its position in Akamai Technologies by 3.4% in the first quarter. HighPoint Advisor Group LLC now owns 5,364 shares of the technology infrastructure company’s stock worth $434,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

AKAM has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Akamai Technologies from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley cut their target price on Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating on the stock in a research note on Friday. Bank of America reduced their target price on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, October 20th. Zacks Research upgraded Akamai Technologies to a “hold” rating in a report on Monday, August 11th. Finally, Raymond James Financial cut their price objective on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Hold” and an average price target of $93.80.

About Akamai Technologies

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.