Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 7,382 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $72.64, for a total value of $536,228.48. Following the sale, the insider now owns 25,052 shares in the company, valued at approximately $1,819,777.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
AKAM traded up $0.36 during midday trading on Wednesday, reaching $72.85. 948,891 shares of the company were exchanged, compared to its average volume of 1,779,812. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $78.28. The stock has a market cap of $12,177.21, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 2.52 and a beta of 0.67.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $649.08 million. During the same quarter last year, the business earned $0.72 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. equities analysts forecast that Akamai Technologies, Inc. will post 2.22 EPS for the current year.
Akamai Technologies declared that its Board of Directors has initiated a share buyback program on Thursday, March 8th that authorizes the company to buyback $417.00 million in outstanding shares. This buyback authorization authorizes the technology infrastructure company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC boosted its holdings in Akamai Technologies by 2.4% during the third quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock worth $15,205,000 after buying an additional 7,327 shares during the last quarter. Aries Wealth Management bought a new position in Akamai Technologies during the fourth quarter worth about $394,000. Atria Investments LLC bought a new position in Akamai Technologies during the fourth quarter worth about $284,000. California Public Employees Retirement System boosted its holdings in Akamai Technologies by 10.2% during the fourth quarter. California Public Employees Retirement System now owns 459,688 shares of the technology infrastructure company’s stock worth $29,898,000 after buying an additional 42,635 shares during the last quarter. Finally, Saturna Capital CORP bought a new position in Akamai Technologies during the fourth quarter worth about $255,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Several analysts have recently commented on AKAM shares. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Guggenheim increased their target price on Akamai Technologies from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Morgan Stanley restated a “sell” rating and set a $52.00 target price on shares of Akamai Technologies in a report on Wednesday, December 27th. Finally, Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $69.96.
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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.
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