Rick M. Mcconnell Sells 48,369 Shares of Akamai Technologies, Inc. (AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 48,369 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $56.83, for a total transaction of $2,748,810.27. Following the transaction, the insider now owns 45,974 shares in the company, valued at $2,612,702.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Akamai Technologies, Inc. (AKAM) opened at $57.76 on Friday. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.64. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. The firm has a market cap of $9,770.22, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping 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 analysts’ expectations of $610.66 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s revenue was up 6.3% on a year-over-year basis. equities analysts expect that Akamai Technologies, Inc. will post 1.89 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on AKAM shares. Wells Fargo & Company set a $57.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. B. Riley restated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a report on Thursday, October 12th. Credit Suisse Group upped their target price on shares of Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Nomura upped their target price on shares of Akamai Technologies from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Finally, Vetr raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 target price for the company in a research note on Wednesday, September 6th. Two investment 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 stock currently has an average rating of “Hold” and an average price target of $59.59.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its holdings in shares of 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 valued at $101,000 after purchasing an additional 168 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at approximately $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at approximately $119,000. FTB Advisors Inc. grew its holdings in shares of Akamai Technologies by 2.4% during the 2nd 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 last quarter. Finally, Tobam bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at approximately $153,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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