Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 7,579 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total transaction of $386,529.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Akamai Technologies, Inc. (AKAM) remained flat at $50.52 on Thursday. The company’s stock had a trading volume of 1,171,001 shares. The company’s 50-day moving average is $47.71 and its 200 day moving average is $50.74. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.64. The firm has a market cap of $8.66 billion, a PE ratio of 28.85 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. On average, equities analysts anticipate that Akamai Technologies, Inc. will post $2.52 earnings per share for the current year.

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AKAM has been the topic of several analyst reports. BidaskClub upgraded shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Robert W. Baird reiterated a “hold” rating and set a $52.00 price objective on shares of Akamai Technologies in a research note on Friday, September 1st. Credit Suisse Group began coverage on shares of Akamai Technologies in a research note on Tuesday, September 5th. They set a “neutral” rating and a $50.00 price objective on the stock. Vetr lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a research note on Wednesday, September 13th. Finally, Instinet reiterated a “neutral” rating and set a $47.00 price objective (down previously from $48.00) on shares of Akamai Technologies in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.64.

A number of hedge funds have recently made changes to their positions in the business. Cadence Capital Management LLC lifted its stake in Akamai Technologies by 0.6% in the second quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after acquiring an additional 30 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Akamai Technologies by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock valued at $254,000 after purchasing an additional 37 shares during the period. FTB Advisors Inc. raised its position in shares of Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the period. Trust Co raised its position in shares of Akamai Technologies by 2.1% in the first quarter. Trust Co now owns 4,447 shares of the technology infrastructure company’s stock valued at $266,000 after purchasing an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Akamai Technologies by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the technology infrastructure company’s stock valued at $533,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 84.49% of the company’s stock.

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 is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

Insider Buying and Selling by Quarter for Akamai Technologies (NASDAQ:AKAM)

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