Insider Selling: Akamai Technologies, Inc. (AKAM) Insider Sells 3,966 Shares of Stock
Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 3,966 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $54.19, for a total transaction of $214,917.54. Following the completion of the transaction, the insider now directly owns 39,753 shares of the company’s stock, valued at $2,154,215.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Akamai Technologies, Inc. (NASDAQ AKAM) traded down 1.02% during trading on Monday, hitting $52.46. 2,073,622 shares of the company’s stock were exchanged. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 29.96 and a beta of 0.65. Akamai Technologies, Inc. has a 52-week low of $44.65 and a 52-week high of $71.64. The firm has a 50 day moving average price of $49.55 and a 200 day moving average price of $50.08.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Akamai Technologies, Inc. will post $2.56 earnings per share for the current year.
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Several research analysts have commented on AKAM shares. Vetr raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price target for the company in a report on Wednesday, September 6th. Instinet reissued a “neutral” rating and issued a $47.00 price target (down from $48.00) on shares of Akamai Technologies in a report on Tuesday, September 5th. Wells Fargo & Company set a $57.00 price target on shares of Akamai Technologies and gave the company a “hold” rating in a report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Akamai Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $56.00 price target on shares of Akamai Technologies in a report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. Akamai Technologies has an average rating of “Hold” and an average target price of $60.73.
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.
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