Insider Selling: Akamai Technologies, Inc. (AKAM) Insider Sells $163,008.00 in Stock
Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 2,264 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $72.00, for a total transaction of $163,008.00. Following the completion of the transaction, the insider now directly owns 24,269 shares in the company, valued at approximately $1,747,368. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Akamai Technologies stock opened at $72.47 on Friday. Akamai Technologies, Inc. has a 52 week low of $57.18 and a 52 week high of $83.08. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.27. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.58 and a beta of 0.56.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $713.36 million for the quarter, compared to analysts’ expectations of $703.74 million. During the same quarter last year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 3.11 earnings per share for the current fiscal year.
Several brokerages recently weighed in on AKAM. Credit Suisse Group dropped their price target on shares of Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 13th. Zacks Investment Research cut shares of Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. BidaskClub cut shares of Akamai Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $85.00 price target (up previously from $84.00) on shares of Akamai Technologies in a research report on Wednesday, February 13th. Finally, Craig Hallum dropped their price target on shares of Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Akamai Technologies has an average rating of “Buy” and a consensus target price of $81.63.
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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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