Investors sold shares of Akamai Technologies, Inc. (NASDAQ:AKAM) on strength during trading hours on Friday after an insider sold shares in the company. $15.68 million flowed into the stock on the tick-up and $47.84 million flowed out of the stock on the tick-down, for a money net flow of $32.16 million out of the stock. Of all equities tracked, Akamai Technologies had the 0th highest net out-flow for the day. Akamai Technologies traded up $0.18 for the day and closed at $55.44Specifically, SVP Aaron Ahola sold 2,893 shares of Akamai Technologies stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the transaction, the senior vice president now owns 8,046 shares in the company, valued at approximately $421,932.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton acquired 19,670 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was bought at an average price of $50.83 per share, with a total value of $999,826.10. Following the purchase, the chief executive officer now directly owns 226,950 shares in the company, valued at approximately $11,535,868.50. The disclosure for this purchase can be found here. Insiders sold a total of 31,181 shares of company stock valued at $1,614,560 in the last quarter. Company insiders own 3.20% of the company’s stock.
Several brokerages have recently issued reports on AKAM. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a research note on Tuesday. Zacks Investment Research upgraded Akamai Technologies from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Cowen and Company restated a “hold” rating and set a $59.00 target price on shares of Akamai Technologies in a research note on Friday, October 27th. Credit Suisse Group boosted their target price on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, Nomura boosted their target price on Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.73.
The company has a market capitalization of $9,350.00, a price-to-earnings ratio of 28.00, a PEG ratio of 2.14 and a beta of 0.66. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. equities analysts expect that Akamai Technologies, Inc. will post 1.88 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in shares of Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies in the second quarter valued at approximately $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies in the second quarter valued at approximately $119,000. FTB Advisors Inc. boosted its stake 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 buying an additional 59 shares in the last quarter. Finally, Tobam purchased a new stake in shares of Akamai Technologies in the second quarter valued at approximately $153,000. 84.30% of the stock is currently owned by institutional investors and hedge funds.
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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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