Insider Buying: Akamai Technologies, Inc. (NASDAQ:AKAM) CEO Purchases 280 Shares of Stock

Posted by Xavier Holt on May 26th, 2023

Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) CEO F Thomson Leighton acquired 280 shares of Akamai Technologies stock in a transaction dated Friday, May 26th. The stock was bought at an average price of $89.39 per share, with a total value of $25,029.20. Following the completion of the purchase, the chief executive officer now directly owns 87,941 shares in the company, valued at $7,861,045.99. The purchase was disclosed in a document filed with the SEC, which is available at this link.

F Thomson Leighton also recently made the following trade(s):

On Wednesday, May 24th, F Thomson Leighton acquired 288 shares of Akamai Technologies stock. The stock was bought at an average price of $86.96 per share, with a total value of $25,044.48.
On Monday, May 22nd, F Thomson Leighton acquired 286 shares of Akamai Technologies stock. The stock was bought at an average price of $87.52 per share, with a total value of $25,030.72.
On Friday, May 19th, F Thomson Leighton purchased 285 shares of Akamai Technologies stock. The shares were acquired at an average cost of $87.86 per share, for a total transaction of $25,040.10.
On Wednesday, May 17th, F Thomson Leighton purchased 288 shares of Akamai Technologies stock. The shares were acquired at an average cost of $87.00 per share, for a total transaction of $25,056.00.
On Monday, May 15th, F Thomson Leighton purchased 293 shares of Akamai Technologies stock. The shares were acquired at an average cost of $85.33 per share, for a total transaction of $25,001.69.
On Friday, May 5th, F Thomson Leighton purchased 323 shares of Akamai Technologies stock. The shares were acquired at an average cost of $77.53 per share, for a total transaction of $25,042.19.
On Wednesday, May 3rd, F Thomson Leighton acquired 315 shares of Akamai Technologies stock. The shares were purchased at an average price of $79.44 per share, with a total value of $25,023.60.
On Monday, May 1st, F Thomson Leighton acquired 306 shares of Akamai Technologies stock. The shares were purchased at an average price of $81.93 per share, with a total value of $25,070.58.
On Friday, April 28th, F Thomson Leighton acquired 308 shares of Akamai Technologies stock. The shares were purchased at an average price of $81.41 per share, with a total value of $25,074.28.
On Wednesday, April 26th, F Thomson Leighton acquired 315 shares of Akamai Technologies stock. The shares were purchased at an average price of $79.47 per share, with a total value of $25,033.05.

Akamai Technologies Stock Up 1.7 %

NASDAQ:AKAM traded up $1.51 during midday trading on Friday, hitting $90.57. 1,177,212 shares of the company were exchanged, compared to its average volume of 1,588,988. The company has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $83.52. Akamai Technologies, Inc. has a fifty-two week low of $70.65 and a fifty-two week high of $102.83. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $13.78 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.96 and a beta of 0.81.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its earnings results on Tuesday, May 9th. The technology infrastructure company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.08. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $912.13 million. Akamai Technologies had a net margin of 12.50% and a return on equity of 14.63%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. As a group, equities analysts anticipate that Akamai Technologies, Inc. will post 4.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently bought and sold shares of AKAM. ProShare Advisors LLC grew its stake in Akamai Technologies by 22.8% during the first quarter. ProShare Advisors LLC now owns 31,191 shares of the technology infrastructure company’s stock worth $2,442,000 after buying an additional 5,784 shares during the period. Toroso Investments LLC grew its stake in Akamai Technologies by 37.1% during the first quarter. Toroso Investments LLC now owns 18,526 shares of the technology infrastructure company’s stock worth $1,451,000 after buying an additional 5,009 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in Akamai Technologies by 1.0% during the first quarter. Chevy Chase Trust Holdings LLC now owns 91,376 shares of the technology infrastructure company’s stock worth $7,155,000 after buying an additional 937 shares during the period. AM Squared Ltd purchased a new stake in Akamai Technologies during the first quarter worth approximately $446,000. Finally, Hollencrest Capital Management grew its stake in Akamai Technologies by 258.7% during the first quarter. Hollencrest Capital Management now owns 2,016 shares of the technology infrastructure company’s stock worth $158,000 after buying an additional 1,454 shares during the period. Institutional investors and hedge funds own 90.41% of the company’s stock.

Analyst Ratings Changes

AKAM has been the subject of a number of research analyst reports. Cowen cut their price objective on Akamai Technologies from $137.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, February 15th. Piper Sandler upgraded Akamai Technologies from a “neutral” rating to an “overweight” rating and set a $93.00 price target for the company in a research report on Monday, April 10th. Loop Capital dropped their price target on Akamai Technologies from $91.00 to $79.00 and set a “hold” rating for the company in a research report on Wednesday, March 1st. StockNews.com initiated coverage on Akamai Technologies in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Evercore ISI lifted their price target on Akamai Technologies from $100.00 to $105.00 in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and an average target price of $101.06.

Akamai Technologies Company Profile

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Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.