Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 5,520 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $72.40, for a total transaction of $399,648.00. Following the completion of the transaction, the chief financial officer now directly owns 15,134 shares in the company, valued at approximately $1,095,701.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ:AKAM traded down $0.24 during midday trading on Friday, hitting $72.47. The company had a trading volume of 1,363,417 shares, compared to its average volume of 1,394,984. Akamai Technologies, Inc. has a 52-week low of $57.18 and a 52-week high of $83.08. The firm has a market capitalization 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 debt-to-equity ratio of 0.27, a quick ratio of 2.09 and a current ratio of 2.09.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Akamai Technologies had a net margin of 10.99% and a return on equity of 13.81%. The company had revenue of $713.36 million during the quarter, compared to analyst estimates of $703.74 million. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Akamai Technologies, Inc. will post 3.11 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Griffin Asset Management Inc. boosted its position in Akamai Technologies by 9.5% during the third quarter. Griffin Asset Management Inc. now owns 4,600 shares of the technology infrastructure company’s stock valued at $336,000 after buying an additional 400 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Akamai Technologies by 94.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,755 shares of the technology infrastructure company’s stock valued at $1,957,000 after buying an additional 12,973 shares during the period. Korea Investment CORP boosted its position in Akamai Technologies by 69.1% during the third quarter. Korea Investment CORP now owns 261,758 shares of the technology infrastructure company’s stock valued at $19,148,000 after buying an additional 106,927 shares during the period. Vanguard Group Inc boosted its position in Akamai Technologies by 0.4% during the third quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after buying an additional 63,759 shares during the period. Finally, Quantamental Technologies LLC purchased a new stake in Akamai Technologies during the fourth quarter valued at about $507,000. Institutional investors own 87.88% of the company’s stock.
Several research analysts have recently weighed in on AKAM shares. TheStreet raised shares of Akamai Technologies from a “c+” rating to a “b-” rating in a report on Friday, November 16th. Craig Hallum decreased their price target on shares of Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, January 9th. B. Riley reaffirmed a “buy” rating and issued a $102.00 price target (down previously from $105.00) on shares of Akamai Technologies in a report on Wednesday, February 13th. Zacks Investment Research raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Monday, February 18th. Finally, BidaskClub raised shares of Akamai Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $81.63.
About Akamai Technologies
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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