Akamai Technologies Director Sells $4,319,640 in Stock (AKAM)
Akamai Technologies (NASDAQ:AKAM) Director Paul Sagan sold 78,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $55.38, for a total value of $4,319,640.00. Following the completion of the transaction, the director now directly owns 459,148 shares of the company’s stock, valued at approximately $25,427,616. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at DA Davidson reiterated a “buy” rating on shares of Akamai Technologies in a research note to investors on Friday. They now have a $62.00 price target on the stock, down previously from $63.00. Separately, analysts at Canaccord Genuity set a $63.00 price target on shares of Akamai Technologies in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of Akamai Technologies from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $47.50 price target on the stock, up previously from $35.00. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.29.
Akamai Technologies (NASDAQ:AKAM) traded down 0.94% on Friday, hitting $56.64. 4,850,126 shares of the company’s stock traded hands. Akamai Technologies has a 52 week low of $32.63 and a 52 week high of $57.76. The stock’s 50-day moving average is $48.17 and its 200-day moving average is $47.75. The company has a market cap of $10.137 billion and a price-to-earnings ratio of 37.13. Akamai Technologies also saw some unusual options trading activity on Tuesday. Investors purchased 9,226 put options on the company. This is an increase of approximately 380% compared to the typical volume of 1,922 put options.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.03. The company had revenue of $436.00 million for the quarter, compared to the consensus estimate of $422.39 million. During the same quarter last year, the company posted $0.54 earnings per share. Akamai Technologies’s revenue was up 15.3% compared to the same quarter last year. Analysts expect that Akamai Technologies will post $2.26 EPS for the current fiscal year.
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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