Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Akamai Technologies Inc shares valued at $389,200 were sold by Joseph Paul C on Sep 13 ’24. At $97.30 per share, Joseph Paul C sold 4,000 shares. The insider’s holdings dropped to 30,703 shares worth approximately $3.13 million following the completion of this transaction.
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Also, Joseph Paul C purchased 4,000 shares, netting a total of over 389,200 in proceeds.
Before that, Wagner William Raymond had sold 1,000 shares from its account. In a trade valued at $100,730, the Director traded Akamai Technologies Inc shares for $100.73 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $1.7 million.
As published in a research note from Craig Hallum on August 09, 2024, Akamai Technologies Inc [AKAM] has been rated up from a Hold to a Buy and the price target has been revised to $125 from $110. Analysts at Guggenheim upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of July 24, 2024, HSBC Securities has increased its “Reduce” rating to a “Hold” for AKAM. Earlier on July 08, 2024, Scotiabank initiated its rating. Their recommendation was “a Sector outperform” for AKAM stock.
Analyzing AKAM Stock Performance
During the last five days, there has been a drop of approximately -0.85%. Over the course of the year, Akamai Technologies Inc shares have dropped approximately -13.94%. 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 $101.04, while a 200-day SMA reached $102.30. Nevertheless, trading volume fell to 2.25 million shares from 1.11 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 100.96, which, if violated, would cause prices to drop to 100.06. In the upper region, resistance lies at 103.44. The next price resistance is at 105.02. RSI (Relative Strength Index) is 47.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.22, which suggests the price will decrease in the coming days. Percent R is at 94.65%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
