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Akamai Technologies (NASDAQ:AKAM) Director Paul Sagan sold 50,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $60.73, for a total transaction of $3,036,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

AKAM has been the subject of a number of recent research reports. Analysts at Robert W. Baird initiated coverage on shares of Akamai Technologies in a research note on Tuesday, August 26th. They set an “outperform” rating and a $71.00 price target on the stock. Separately, 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. Finally, 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Akamai Technologies presently has a consensus rating of “Buy” and an average price target of $65.32.

Akamai Technologies (NASDAQ:AKAM) traded down 0.16% on Wednesday, hitting $60.59. 569,871 shares of the company’s stock traded hands. Akamai Technologies has a 52-week low of $43.74 and a 52-week high of $63.15. The stock’s 50-day moving average is $59.18 and its 200-day moving average is $57.93. The company has a market cap of $10.795 billion and a price-to-earnings ratio of 36.12.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.46 earnings per share. Akamai Technologies’s revenue was up 25.9% compared to the same quarter last year. On average, analysts predict that Akamai Technologies will post $2.35 earnings per share 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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