Insider Selling: Akamai Technologies Insider Sells 67,971 Shares of Stock (AKAM)
Akamai Technologies (NASDAQ:AKAM) Insider Robert W. Hughes sold 67,971 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $61.17, for a total value of $4,157,786.07. Following the transaction, the insider now directly owns 52,493 shares in the company, valued at approximately $3,210,997. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Akamai Technologies (NASDAQ:AKAM) traded down 0.82% on Tuesday, hitting $61.61. 1,210,041 shares of the company’s stock traded hands. Akamai Technologies has a 1-year low of $41.74 and a 1-year high of $63.15. The stock has a 50-day moving average of $55.77 and a 200-day moving average of $54.0. The company has a market cap of $10.967 billion and a P/E ratio of 38.35.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The company had revenue of $454.00 million for the quarter, compared to the consensus estimate of $440.43 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $2.29 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on AKAM shares. Analysts at B. Riley reiterated a “buy” rating on shares of Akamai Technologies in a research note on Wednesday, May 14th. They now have a $68.00 price target on the stock. Separately, analysts at Pacific Crest upgraded shares of Akamai Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 14th. They now have a $65.00 price target on the stock, up previously from $53.30. Finally, analysts at Macquarie raised their price target on shares of Akamai Technologies from $56.00 to $59.00 in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.14.
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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