Akamai Technologies, Inc. (NASDAQ:AKAM) CEO F Thomson Leighton Acquires 37,670 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Akamai Technologies Trading Down 2.1 %

Akamai Technologies stock opened at $77.87 on Friday. Akamai Technologies, Inc. has a 52-week low of $75.50 and a 52-week high of $113.36. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.74 and a beta of 0.65. The firm has a 50-day moving average price of $94.74 and a two-hundred day moving average price of $97.41.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

AKAM has been the subject of a number of recent analyst reports. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $112.00 to $100.00 in a research report on Friday, February 21st. Robert W. Baird decreased their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Raymond James cut their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Scotiabank lowered their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AKAM. Farther Finance Advisors LLC raised its stake in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter valued at $49,000. Bruce G. Allen Investments LLC raised its stake in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after buying an additional 155 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter worth $57,000. Institutional investors own 94.28% of the company’s stock.

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.