Akamai Technologies, Inc. (AKAM) Insider Rick M. Mcconnell Sells 2,264 Shares of Stock

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Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 2,264 shares of Akamai Technologies stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $72.00, for a total value of $163,008.00. Following the completion of the transaction, the insider now owns 24,269 shares of the company’s stock, valued at $1,747,368. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of AKAM traded down $0.24 during mid-day trading on Friday, reaching $72.47. 1,363,417 shares of the company’s stock traded hands, compared to its average volume of 1,394,984. The stock has a market cap of $11.89 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.58 and a beta of 0.56. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.27. Akamai Technologies, Inc. has a 12 month low of $57.18 and a 12 month high of $83.08.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.07. The company had revenue of $713.36 million for the quarter, compared to analysts’ expectations of $703.74 million. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, analysts forecast that Akamai Technologies, Inc. will post 3.11 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focused Wealth Management Inc bought a new stake in Akamai Technologies during the fourth quarter worth approximately $29,000. Private Capital Group LLC raised its holdings in Akamai Technologies by 148.5% during the fourth quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock worth $40,000 after purchasing an additional 395 shares in the last quarter. Fort L.P. bought a new stake in Akamai Technologies during the fourth quarter worth approximately $82,000. Captrust Financial Advisors raised its holdings in Akamai Technologies by 394.2% during the third quarter. Captrust Financial Advisors now owns 1,448 shares of the technology infrastructure company’s stock worth $106,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in Akamai Technologies during the third quarter worth approximately $113,000. 87.88% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the company. Credit Suisse Group decreased their price target on Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, February 13th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $85.00 price target (up from $84.00) on shares of Akamai Technologies in a research note on Wednesday, February 13th. KeyCorp raised their target price on shares of Akamai Technologies from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, February 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $76.00 target price (down previously from $77.00) on shares of Akamai Technologies in a report on Wednesday, February 13th. Finally, Morgan Stanley raised their target price on shares of Akamai Technologies from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $81.63.

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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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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

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