Adam Karon Sells 8,000 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP Adam Karon sold 8,000 shares of Akamai Technologies stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $77.00, for a total value of $616,000.00. Following the completion of the transaction, the executive vice president now owns 16,418 shares of the company’s stock, valued at $1,264,186. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Adam Karon also recently made the following trade(s):

  • On Monday, June 10th, Adam Karon sold 3,500 shares of Akamai Technologies stock. The stock was sold at an average price of $80.00, for a total value of $280,000.00.

NASDAQ AKAM traded up $0.24 on Monday, hitting $80.38. 892,147 shares of the company’s stock were exchanged, compared to its average volume of 1,236,179. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $77.83. Akamai Technologies, Inc. has a fifty-two week low of $57.18 and a fifty-two week high of $86.19. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 1.69 and a beta of 0.63.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The business had revenue of $706.51 million for the quarter, compared to analyst estimates of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. As a group, equities analysts expect that Akamai Technologies, Inc. will post 3.23 EPS for the current year.

A number of analysts have recently commented on AKAM shares. Evercore ISI started coverage on Akamai Technologies in a research report on Thursday, March 21st. They set an “in-line” rating and a $70.00 target price on the stock. Deutsche Bank cut Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 target price on the stock. in a research report on Monday, March 25th. Tigress Financial reiterated a “strong-buy” rating on shares of Akamai Technologies in a research report on Thursday, April 4th. BidaskClub upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, KeyCorp boosted their price target on Akamai Technologies from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Akamai Technologies currently has an average rating of “Buy” and an average target price of $82.93.

Several large investors have recently made changes to their positions in AKAM. Oregon Public Employees Retirement Fund raised its holdings in Akamai Technologies by 5,021.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,029,933 shares of the technology infrastructure company’s stock valued at $33,000 after acquiring an additional 1,990,300 shares during the last quarter. Norges Bank acquired a new stake in shares of Akamai Technologies during the 4th quarter worth $100,218,000. Millennium Management LLC increased its holdings in shares of Akamai Technologies by 220.0% during the 4th quarter. Millennium Management LLC now owns 2,351,173 shares of the technology infrastructure company’s stock worth $143,610,000 after buying an additional 1,616,320 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Akamai Technologies by 340.9% during the 1st quarter. Nordea Investment Management AB now owns 1,824,655 shares of the technology infrastructure company’s stock worth $130,846,000 after buying an additional 1,410,848 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Akamai Technologies by 6,712.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,108,781 shares of the technology infrastructure company’s stock worth $67,724,000 after buying an additional 1,092,506 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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