Akamai Technologies Inc. (AKAM) EVP Melanie Haratunian Sells 12,129 Shares
Akamai Technologies Inc. (NASDAQ:AKAM) EVP Melanie Haratunian sold 12,129 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $56.00, for a total value of $679,224.00. Following the completion of the transaction, the executive vice president now owns 101,253 shares in the company, valued at approximately $5,670,168. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Melanie Haratunian also recently made the following trade(s):
- On Friday, August 26th, Melanie Haratunian sold 10,282 shares of Akamai Technologies stock. The shares were sold at an average price of $55.29, for a total value of $568,491.78.
- On Tuesday, August 23rd, Melanie Haratunian sold 20,875 shares of Akamai Technologies stock. The stock was sold at an average price of $53.49, for a total value of $1,116,603.75.
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) opened at 54.95 on Friday. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 30.16 and a beta of 1.49. Akamai Technologies Inc. has a 1-year low of $39.43 and a 1-year high of $76.39. The company’s 50-day moving average price is $53.41 and its 200 day moving average price is $53.25.
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Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. On average, analysts predict that Akamai Technologies Inc. will post $2.57 earnings per share for the current fiscal year.
A number of analysts recently commented on AKAM shares. Zacks Investment Research lowered Akamai Technologies from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co. upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $59.20 to $51.41 in a report on Friday, August 12th. Mizuho reiterated a “buy” rating and set a $65.00 price target on shares of Akamai Technologies in a report on Monday, October 3rd. Pacific Crest reiterated a “hold” rating on shares of Akamai Technologies in a report on Tuesday, August 2nd. Finally, KeyCorp lowered Akamai Technologies to an “overweight” rating in a report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.50.
Several institutional investors have recently added to or reduced their stakes in AKAM. Massachusetts Financial Services Co. MA purchased a new position in Akamai Technologies during the second quarter valued at $73,367,000. Capital World Investors boosted its position in Akamai Technologies by 8.1% in the second quarter. Capital World Investors now owns 15,028,695 shares of the technology infrastructure company’s stock valued at $840,555,000 after buying an additional 1,126,696 shares during the last quarter. William Blair Investment Management LLC boosted its position in Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock valued at $247,689,000 after buying an additional 728,294 shares during the last quarter. PGGM Investments purchased a new position in Akamai Technologies during the second quarter valued at $30,442,000. Finally, Obermeyer Wood Investment Counsel Lllp purchased a new position in Akamai Technologies during the second quarter valued at $26,058,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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