Rick M. Mcconnell Unloads 2,500 Shares of Akamai Technologies Stock (AKAM)
Akamai Technologies (NASDAQ:AKAM) Insider Rick M. Mcconnell sold 2,500 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the insider now directly owns 17,310 shares in the company, valued at approximately $1,038,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Akamai Technologies (NASDAQ:AKAM) opened at 60.95 on Thursday. Akamai Technologies has a one year low of $43.74 and a one year high of $63.15. The stock’s 50-day moving average is $59.25 and its 200-day moving average is $57.5. The company has a market cap of $10.859 billion and a P/E ratio of 36.24.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.03. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $472.90 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $2.34 earnings per share for the current fiscal year.
A number of research firms have recently commented on AKAM. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Akamai Technologies in a research note on Thursday, July 31st. They now have a $50.00 price target on the stock, up previously from $47.50. Analysts at Macquarie upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 24th. They now have a $70.00 price target on the stock, up previously from $59.00. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $64.88.
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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