Taking a look at what insiders are doing to gauge the Akamai Technologies Inc. (AKAM)’s direction

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Akamai Technologies Inc. shares valued at $309,820 were sold by Ahola Aaron on Sep 06. At $88.52 per share, Ahola Aaron sold 3,500 shares. The insider’s holdings dropped to 11,916 shares worth approximately $0.98 million following the completion of this transaction.


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Also, Blumofe Robert sold 5,000 shares, netting a total of over 471,250 in proceeds. Following the sale of shares at $94.25 each, the insider now holds 14,835 shares.

Before that, Blumofe Robert had sold 5,000 shares from its account. In a trade valued at $488,400, the Chief Technology Officer traded Akamai Technologies Inc. shares for $97.68 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $1.62 million.

As published in a research note from Citigroup on July 22, 2022, Akamai Technologies Inc. [AKAM] has been rated down from a Buy to a Neutral and the price target has been revised to $105 from $118. This represents a 21.82% premium over Thursday’s closing price. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early May. As of January 25, 2022, Citigroup has initiated its “Buy” rating for AKAM. Earlier on January 19, 2022, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for AKAM stock which previously was a “a Sector weight”.

Analyzing AKAM’s Price Performance

On Thursday, Akamai Technologies Inc. [NASDAQ: AKAM] plunged -2.04% to $82.09. The stock’s lowest price that day was $81.40, but it reached a high of $83.80 in the same session. During the last five days, there has been a drop of approximately -6.97%. Over the course of the year, Akamai Technologies Inc. shares have dropped approximately -29.86%. Shares of the company reached a 52-week high of $123.25 on 04/21/22 and a 52-week low of $81.40 on 09/22/22. A 50-day SMA is recorded $92.20, while a 200-day SMA reached $104.17. Nevertheless, trading volume fell to 1.95 million shares from 1.21 million shares the previous day.

Support And Resistance Levels for Akamai Technologies Inc. (AKAM)

According to the 24-hour chart, there is a support level at 81.06, which, if violated, would cause prices to drop to 80.03. In the upper region, resistance lies at 83.46. The next price resistance is at 84.83. RSI (Relative Strength Index) is 28.52 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.42, which suggests the price will decrease in the coming days. Percent R is at 94.16%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Akamai Technologies Inc. subject to short interest?

Stocks of Akamai Technologies Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.5 million shares to 11.67 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.17 million shares. A decline of -4.28% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.12 of the overall float, the days-to-cover ratio (short ratio) decline to 8.12.

Which companies own the most shares of Akamai Technologies Inc. (AKAM)?

According to The Vanguard Group, Inc. filings, the company currently owns 17,228,838 shares, which is about 10.84% of the total AKAM shares outstanding. The investor’s shares have plunged by -17,663 from its previous 13-F filing of 17246501.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $905,414,419. Canada Pension Plan Investment Bo acquire a 0.03% interest valued at $666.04 million while SSgA Funds Management, Inc. sold a -215,180 stake. A total of -140,377 shares of Akamai Technologies Inc. were sold by Nordea Investment Management AB during the quarter, and -578,057 were sold by First Trust Advisors LP. In its current portfolio, Geode Capital Management LLC holds 3,431,539 shares valued at $309.8 million.

In terms of Akamai Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $111.00 in the next 12 months, up nearly 31.26% from the previous closing price of $83.80. Analysts anticipate Akamai Technologies Inc. stock to reach $164.00 by 2022, with the lowest price target being $90.00. In spite of this, 19 analysts ranked Akamai Technologies Inc. stock as an Overweight at the end of 2022. On January 06, 2022, Piper Sandler assigned a price target of “a Neutral” to the stock and downgraded coverage with a $127.

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