Akamai Technologies, Inc. (AKAM) SVP Sells $151,708.92 in Stock
Akamai Technologies, Inc. (NASDAQ:AKAM) SVP Aaron Ahola sold 2,893 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total transaction of $151,708.92. Following the sale, the senior vice president now owns 8,046 shares in the company, valued at approximately $421,932.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share.
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A number of research firms have recently issued reports on AKAM. Credit Suisse Group boosted their price target on shares of Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Cowen and Company restated a “hold” rating and set a $59.00 price target on shares of Akamai Technologies in a report on Friday, October 27th. Royal Bank Of Canada restated a “sector perform” rating and set a $54.00 price target (down previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “buy” rating and set a $57.00 price target on shares of Akamai Technologies in a report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. cut their price target on shares of Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $60.73.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC increased its holdings in Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 168 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Akamai Technologies during the second quarter worth $117,000. BB&T Investment Services Inc. acquired a new position in Akamai Technologies during the second quarter worth $119,000. FTB Advisors Inc. increased its holdings in Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after buying an additional 59 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Akamai Technologies by 79.4% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after buying an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.
Akamai Technologies Company Profile
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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