Akamai Technologies, Inc. (AKAM) Insider Rick M. Mcconnell Sells 2,743 Shares of Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total transaction of $150,865.00. Following the transaction, the insider now owns 37,010 shares of the company’s stock, valued at approximately $2,035,550. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Akamai Technologies, Inc. (NASDAQ AKAM) traded up $0.18 during midday trading on Friday, reaching $55.44. 3,349,176 shares of the company traded hands, compared to its average volume of 2,190,612. Akamai Technologies, Inc. has a twelve month low of $44.65 and a twelve month high of $71.64. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The firm has a market cap of $9,350.00, a P/E ratio of 28.00, a P/E/G ratio of 2.14 and a beta of 0.66.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $610.66 million. During the same quarter last year, the firm posted $0.68 EPS. Akamai Technologies’s revenue was up 6.3% compared to the same quarter last year. sell-side analysts anticipate that Akamai Technologies, Inc. will post 1.88 EPS for the current fiscal year.

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Several research analysts have issued reports on the stock. B. Riley restated a “buy” rating and set a $60.00 price target on shares of Akamai Technologies in a report on Friday, July 28th. BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. 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. SunTrust Banks, Inc. restated a “hold” rating on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, Cowen and Company restated a “hold” rating and set a $60.00 price target on shares of Akamai Technologies in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.73.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC boosted its holdings in Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Akamai Technologies during the 2nd quarter worth $117,000. BB&T Investment Services Inc. purchased a new position in Akamai Technologies during the 2nd quarter worth $119,000. FTB Advisors Inc. boosted its holdings in Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares during the last quarter. Finally, Tobam purchased a new position in Akamai Technologies during the 2nd quarter worth $153,000. 84.30% 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 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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