Recent Insider Activity Suggests Potential Gains for Akamai Technologies Inc. (AKAM)

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ZOM Stock

In a filing, Akamai Technologies Inc. revealed its EVP and CHRO Williams Anthony P unloaded Company’s shares for reported $0.3 million on Aug 25. In the deal valued at $103.01 per share,2,880 shares were sold. As a result of this transaction, Williams Anthony P now holds 7,582 shares worth roughly $ 0.8 million.

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Then, Blumofe Robert sold 2,000 shares, generating $199,060 in total proceeds. Upon selling the shares at $99.53, the Chief Technology Officer now owns 17,609 shares.

Before that, Karon Adam sold 10,427 shares. Akamai Technologies Inc. shares valued at $1,053,961 were divested by the COO & GM Edge Technology Group at a price of $101.08 per share. As a result of the transaction, Karon Adam now holds 21,963 shares, worth roughly $2.31 million.

Price Performance Review of AKAM

On Friday, Akamai Technologies Inc. [NASDAQ:AKAM] saw its stock jump 0.25% to $105.35. On the same session, the stock had its day’s lowest price of $105.24, but rose to a high of $105.97. Over the last five days, the stock has gained 2.46%. Akamai Technologies Inc. shares have risen nearly 24.97% since the year began. Nevertheless, the stocks have risen 16.69% over the past one year. While a 52-week high of $107.47 was reached on 08/09/23, a 52-week low of $70.65 was recorded on 03/13/23. SMA at 50 days reached $95.93, while 200 days put it at $87.18. A total of 1.05 million shares were traded, compared to the trading of 1.97 million shares in the previous session.

Levels Of Support And Resistance For AKAM Stock

The 24-hour chart illustrates a support level at 105.07, which if violated will result in even more drops to 104.79. On the upside, there is a resistance level at 105.80. A further resistance level may holdings at 106.25. The Relative Strength Index (RSI) on the 14-day chart is 71.85, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.36, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.18%. Stochastics %K at 92.44% indicates the stock is a selling.

How much short interest is there in Akamai Technologies Inc.?

A steep rise in short interest was recorded in Akamai Technologies Inc. stocks on Aug 14, 2023, dropping by -1.54 million shares to a total of 6.61 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 8.15 million shares. There was a decline of -23.3%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.04% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.32.

Akamai Technologies Inc. [AKAM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,424,704 shares, or roughly 11.45% of the outstanding AKAM shares. In other words, the investor’s shares have fallen by -15,219 from its previous 13-F filing of 17439923.0. Additionally, BlackRock Fund Advisors decreased -0.97% of its stake after which the total value it holdings stand at $960,793,029, while SSgA Funds Management, Inc. added 0.48% of its stake to hold $643.85 million in the firm. Over the last quarter, Nordea Investment Management AB sold -688,198 shares of Akamai Technologies Inc., while First Trust Advisors LP sold -326,197 shares. At present, Geode Capital Management LLC is holding 3,582,467 shares valued at $338.54 million. Amundi Asset Management US, Inc. owned 3,218,442 shares of the company at the time of its most recent 13F filing, worth $304.14 million.

According to FactSet, Akamai Technologies Inc.’s share price will average $105.59 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.77 percent from its previous closing price of $105.09. Analysts expect Akamai Technologies Inc. stock to reach the higher price of $125.00, while the lowest price estimate is $74.00. However, 21 analysts have rated AKAM stock as an Overweight in their predictions for 2023.


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