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Chief Technology Officer Blumofe Robert sale 3,000 shares of Akamai Technologies Inc [AKAM]

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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 $265,020 were sold by Blumofe Robert on Jun 14 ’24. At $88.34 per share, Blumofe Robert sold 3,000 shares. The insider’s holdings dropped to 24,729 shares worth approximately $2.24 million following the completion of this transaction.

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Also, Blumofe Robert sold 219 shares, netting a total of over 19,346 in proceeds. Following the sale of shares at $88.34 each, the insider now holds 24,510 shares.

Before that, Wagner William Raymond had sold 1,000 shares from its account. In a trade valued at $93,540, the Director traded Akamai Technologies Inc shares for $93.54 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $1.32 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 surge of approximately 2.59%. Over the course of the year, Akamai Technologies Inc shares have dropped approximately -23.35%. Shares of the company reached a 52-week high of $129.17 on 02/09/24 and a 52-week low of $87.59 on 06/13/24. A 50-day SMA is recorded $93.86, while a 200-day SMA reached $107.36. Nevertheless, trading volume fell to 0.74 million shares from 1.07 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 89.73, which, if violated, would cause prices to drop to 89.12. In the upper region, resistance lies at 91.11. The next price resistance is at 91.88. RSI (Relative Strength Index) is 48.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.98, which suggests the price will decrease in the coming days. Percent R is at 25.75%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

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