Akamai Technologies (NASDAQ:AKAM) insider Rick M. Mcconnell sold 7,382 shares of the firm’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $72.64, for a total transaction of $536,228.48. Following the transaction, the insider now directly owns 25,052 shares in the company, valued at $1,819,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
NASDAQ AKAM opened at $72.46 on Friday. The firm has a market cap of $12,382.88, a price-to-earnings ratio of 38.96, a P/E/G ratio of 2.56 and a beta of 0.67. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $78.28. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. sell-side analysts predict that Akamai Technologies will post 2.22 earnings per share for the current year.
Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. Morgan Stanley raised shares of Akamai Technologies from an “underweight” rating to an “equal weight” rating and set a $75.00 target price on the stock in a report on Thursday, March 29th. KeyCorp raised shares of Akamai Technologies from an “underweight” rating to a “sector weight” rating and set a $57.00 target price on the stock in a report on Thursday, March 15th. Credit Suisse Group reaffirmed an “outperform” rating and set a $88.00 target price (up from $78.00) on shares of Akamai Technologies in a report on Friday, March 9th. Finally, JPMorgan Chase raised shares of Akamai Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $44.65 to $75.19 in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Akamai Technologies presently has a consensus rating of “Buy” and a consensus price target of $69.96.
Several hedge funds and other institutional investors have recently bought and sold shares of AKAM. Hexavest Inc. bought a new stake in shares of Akamai Technologies during the fourth quarter worth $39,344,000. Clearbridge Investments LLC grew its stake in shares of Akamai Technologies by 5.5% during the fourth quarter. Clearbridge Investments LLC now owns 9,105,713 shares of the technology infrastructure company’s stock worth $592,236,000 after buying an additional 474,271 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Akamai Technologies by 374.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 583,988 shares of the technology infrastructure company’s stock worth $37,983,000 after buying an additional 460,980 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth $24,754,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Akamai Technologies during the fourth quarter worth $17,747,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
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Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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