Rick M. Mcconnell Sells 12,618 Shares of Akamai Technologies, Inc. (AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 12,618 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $69.76, for a total value of $880,231.68. Following the completion of the sale, the insider now directly owns 32,434 shares of the company’s stock, valued at $2,262,595.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NASDAQ AKAM opened at $69.34 on Friday. The firm has a market capitalization of $11,790.02, a PE ratio of 37.08, a P/E/G ratio of 2.44 and a beta of 0.67. Akamai Technologies, Inc. has a fifty-two week low of $44.65 and a fifty-two week high of $78.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 2.82.

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Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $649.08 million. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. equities research analysts predict that Akamai Technologies, Inc. will post 2.22 earnings per share for the current year.

Akamai Technologies announced that its board has initiated a stock buyback plan on Thursday, March 8th that allows the company to buyback $417.00 million in shares. This buyback authorization allows the technology infrastructure company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

AKAM has been the subject of a number of recent research reports. Credit Suisse Group raised Akamai Technologies from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Monday, December 18th. B. Riley raised their target price on Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Oppenheimer raised their target price on Akamai Technologies from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $69.96.

A number of large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in Akamai Technologies by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock valued at $5,329,000 after buying an additional 788 shares during the period. GHP Investment Advisors Inc. boosted its stake in Akamai Technologies by 2.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 31,445 shares of the technology infrastructure company’s stock valued at $2,045,000 after buying an additional 825 shares during the period. Suntrust Banks Inc. boosted its stake in Akamai Technologies by 19.6% during the fourth quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock valued at $328,000 after buying an additional 829 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in Akamai Technologies by 2.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock valued at $2,135,000 after buying an additional 937 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Akamai Technologies by 8.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,941 shares of the technology infrastructure company’s stock valued at $679,000 after buying an additional 1,098 shares during the period. 89.09% of the stock is owned by 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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