Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Akamai Technologies Inc shares valued at $1,575,233 were sold by Karon Adam on Mar 22 ’24. At $109.78 per share, Karon Adam sold 14,349 shares. The insider’s holdings dropped to 6,697 shares worth approximately $0.71 million following the completion of this transaction.
Also, Karon Adam sold 8,394 shares, netting a total of over 908,734 in proceeds. Following the sale of shares at $108.26 each, the insider now holds 21,046 shares.
Before that, Joseph Paul C had sold 4,000 shares from its account. In a trade valued at $432,360, the EVP – Global Sales traded Akamai Technologies Inc shares for $108.09 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $3.67 million.
As published in a research note from Robert W. Baird on March 07, 2024, Akamai Technologies Inc [AKAM] has been rated up from a Neutral to an Outperform and the price target has been revised to $135 from $128. Analysts at HSBC Securities downgraded the stock from ‘”a Hold”‘ to ‘”a Reduce”‘ outlook in a report released in mid February. As of December 15, 2023, Susquehanna has initiated its “Positive” rating for AKAM. Earlier on October 26, 2023, Guggenheim upgraded its rating. Their new recommendation was “a Neutral” for AKAM stock which previously was a “a Sell”.
Analyzing AKAM Stock Performance
During the last five days, there has been a drop of approximately -3.32%. Over the course of the year, Akamai Technologies Inc shares have dropped approximately -10.44%. Shares of the company reached a 52-week high of $129.17 on 02/09/24 and a 52-week low of $105.83 on 04/04/24. A 50-day SMA is recorded $113.87, while a 200-day SMA reached $107.72. Nevertheless, trading volume fell to 1.17 million shares from 1.18 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 105.16, which, if violated, would cause prices to drop to 104.32. In the upper region, resistance lies at 107.50. The next price resistance is at 109.01. RSI (Relative Strength Index) is 35.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.42, which suggests the price will decrease in the coming days. Percent R is at 96.43%, 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 Mar 15, 2024 dropping by -0.64 million shares to 7.45 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.09 million shares. A decline of -8.59% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.31 of the overall float, the days-to-cover ratio (short ratio) decline to 3.31.
