Akamai Technologies, Inc. (NASDAQ:AKAM) insider William Wheaton sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the insider now directly owns 39,465 shares in the company, valued at $2,762,550. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
William Wheaton also recently made the following trade(s):
- On Monday, December 18th, William Wheaton sold 10,000 shares of Akamai Technologies stock. The stock was sold at an average price of $66.29, for a total value of $662,900.00.
Shares of Akamai Technologies, Inc. (NASDAQ AKAM) opened at $76.07 on Friday. The company has a market capitalization of $12,765.97, a P/E ratio of 60.86, a PEG ratio of 2.68 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $78.28. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.20.
Akamai Technologies declared that its board has initiated a stock repurchase plan on Thursday, March 8th that allows the company to repurchase $417.00 million in shares. This repurchase authorization allows the technology infrastructure company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently weighed in on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $88.00 price target (up from $78.00) on shares of Akamai Technologies in a research note on Friday. JPMorgan Chase & Co. raised Akamai Technologies from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $44.65 to $75.19 in a research note on Friday. Cowen raised Akamai Technologies from a “market perform” rating to an “outperform” rating in a research note on Thursday. Deutsche Bank upped their price target on Akamai Technologies from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada upped their price target on Akamai Technologies to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $69.84.
Several hedge funds have recently added to or reduced their stakes in AKAM. Ark Investment Management LLC grew its holdings in shares of Akamai Technologies by 1,559.0% in the second quarter. Ark Investment Management LLC now owns 101,449 shares of the technology infrastructure company’s stock valued at $5,053,000 after acquiring an additional 95,334 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Akamai Technologies by 19.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,696 shares of the technology infrastructure company’s stock valued at $334,000 after acquiring an additional 1,078 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Akamai Technologies in the third quarter valued at approximately $1,057,000. Frontier Capital Management Co. LLC grew its holdings in shares of Akamai Technologies by 24.9% in the third quarter. Frontier Capital Management Co. LLC now owns 286,987 shares of the technology infrastructure company’s stock valued at $13,982,000 after acquiring an additional 57,200 shares in the last quarter. Finally, BT Investment Management Ltd grew its holdings in shares of Akamai Technologies by 80.9% in the third quarter. BT Investment Management Ltd now owns 112,650 shares of the technology infrastructure company’s stock valued at $5,527,000 after acquiring an additional 50,380 shares in the last quarter. 88.94% of the stock is owned by institutional investors.
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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.
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