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Monitoring Akamai Technologies Inc (AKAM) after recent insider movements

Akamai Technologies Inc’s recent filing unveils that its COO & GM Edge Technology Group Karon Adam unloaded Company’s shares for reported $1.58 million on Mar 22 ’24. In the deal valued at $109.78 per share,14,349 shares were sold. As a result of this transaction, Karon Adam now holds 6,697 shares worth roughly $0.63 million.

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Then, Karon Adam sold 8,394 shares, generating $908,734 in total proceeds. Upon selling the shares at $108.26, the COO & GM Edge Technology Group now owns 21,046 shares.

Before that, Joseph Paul C sold 4,000 shares. Akamai Technologies Inc shares valued at $432,360 were divested by the EVP – Global Sales at a price of $108.09 per share. As a result of the transaction, Joseph Paul C now holds 34,595 shares, worth roughly $3.26 million.

Robert W. Baird upgraded its Akamai Technologies Inc [AKAM] rating to an Outperform from a a Neutral in a research note published on March 07, 2024; the price target was increased to $135 from $128. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who decreased its forecast for the stock in mid February from “a Hold” to “a Reduce”. Susquehanna began covering AKAM with “Positive” recommendation on December 15, 2023. Guggenheim revised its rating on October 26, 2023. It rated AKAM as “a Neutral” which previously was an “a Sell”.

Price Performance Review of AKAM

On Monday, Akamai Technologies Inc [NASDAQ:AKAM] saw its stock jump 3.43% to $94.32. Over the last five days, the stock has lost -6.69%. Akamai Technologies Inc shares have fallen nearly -20.30% since the year began. Nevertheless, the stocks have risen 9.78% over the past one year. While a 52-week high of $129.17 was reached on 02/09/24, a 52-week low of $84.19 was recorded on 05/10/24. SMA at 50 days reached $105.01, while 200 days put it at $109.13. A total of 3.45 million shares were traded, compared to the trading of 9.73 million shares in the previous session.

Levels Of Support And Resistance For AKAM Stock

The 24-hour chart illustrates a support level at 92.23, which if violated will result in even more drops to 90.14. On the upside, there is a resistance level at 95.57. A further resistance level may holdings at 96.82. The Relative Strength Index (RSI) on the 14-day chart is 32.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.17%. Stochastics %K at 43.02% indicates the stock is a holding.

The most recent change occurred on September 29, 2023 when HSBC Securities began covering the stock and recommended ‘”a Hold”‘ rating along with a $106 price target.

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