Insider Selling: James Benson Sells 1,563 Shares of Akamai Technologies Stock (AKAM)
Akamai Technologies (NASDAQ:AKAM) CFO James Benson unloaded 1,563 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $24.99, for a total transaction of $39,059.37. Following the transaction, the chief financial officer now directly owns 6,339 shares of the company’s stock, valued at approximately $158,412. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Akamai Technologies (NASDAQ:AKAM) traded down 2.19% on Wednesday, hitting $45.55. The stock had a trading volume of 2,890,996 shares. Akamai Technologies has a 52-week low of $32.63 and a 52-week high of $51.32. The stock has a 50-day moving average of $47.21 and a 200-day moving average of $42.46. The company has a market cap of $8.153 billion and a price-to-earnings ratio of 30.24.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $396.00 million for the quarter, compared to the consensus estimate of $387.70 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts expect that Akamai Technologies will post $1.99 EPS for the current fiscal year.
A number of analysts have recently weighed in on AKAM shares. Analysts at Thomson Reuters/Verus upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at Jefferies Group cut their price target on shares of Akamai Technologies from $45.00 to $44.00 in a research note to investors on Thursday, October 24th. They now have a “hold” rating on the stock. Finally, analysts at B. Riley cut their price target on shares of Akamai Technologies from $55.00 to $48.50 in a research note to investors on Thursday, October 24th. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.09.
Akamai Technologies, Inc (NASDAQ:AKAM) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet.
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