Robert Blumofe Sells 3,500 Shares of Akamai Technologies (NASDAQ:AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) CTO Robert Blumofe sold 3,500 shares of the firm’s 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through 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 Up 14.7%

Akamai Technologies stock traded up $10.74 during mid-day trading on Friday, reaching $83.74. The stock had a trading volume of 9,626,638 shares, compared to its average volume of 2,280,403. The company has a 50-day moving average price of $75.84 and a two-hundred day moving average price of $77.15. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 3.49 and a beta of 0.72. Akamai Technologies, Inc. has a one year low of $67.51 and a one year high of $103.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.22. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. 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, analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AKAM shares. Raymond James Financial dropped their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Scotiabank decreased their price target on shares of Akamai Technologies from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a research report on Friday. The Goldman Sachs Group assumed coverage on shares of Akamai Technologies in a research report on Wednesday, August 13th. They set a “sell” rating and a $67.00 price objective for the company. DA Davidson reaffirmed a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a report on Thursday, October 16th. Finally, Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Paralel Advisors LLC lifted its holdings in shares of Akamai Technologies by 43.8% in the 2nd quarter. Paralel Advisors LLC now owns 33,188 shares of the technology infrastructure company’s stock valued at $2,647,000 after acquiring an additional 10,110 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Akamai Technologies by 1,663.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company’s stock worth $81,927,000 after acquiring an additional 968,919 shares during the last quarter. Polianta Ltd purchased a new stake in Akamai Technologies during the second quarter valued at approximately $1,236,000. MBB Public Markets I LLC bought a new stake in shares of Akamai Technologies in the 1st quarter valued at approximately $311,000. Finally, Inspire Investing LLC purchased a new position in shares of Akamai Technologies in the 1st quarter worth approximately $313,000. Hedge funds and other 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.