Akamai Technologies, Inc. (NASDAQ:AKAM) Director Monte E. Ford sold 24,721 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $72.41, for a total value of $1,790,047.61. Following the completion of the sale, the director now directly owns 41,012 shares in the company, valued at $2,969,678.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Akamai Technologies stock traded down $0.24 during trading on Friday, hitting $72.47. 1,361,566 shares of the company’s stock traded hands, compared to its average volume of 1,394,911. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.09 and a quick ratio of 2.09. Akamai Technologies, Inc. has a 1 year low of $57.18 and a 1 year high of $83.08. The stock 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.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 12th. The technology infrastructure company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Akamai Technologies had a return on equity of 13.81% and a net margin of 10.99%. The company had revenue of $713.36 million for the quarter, compared to analysts’ expectations of $703.74 million. During the same period last year, the firm posted $0.69 earnings per share. Akamai Technologies’s 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 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the company. Credit Suisse Group reduced their price target on Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 13th. Zacks Investment Research cut Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. BidaskClub cut Akamai Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 27th. Piper Jaffray Companies reissued an “overweight” rating and issued a $85.00 target price (up from $84.00) on shares of Akamai Technologies in a research note on Wednesday, February 13th. Finally, Craig Hallum cut their target price on Akamai Technologies from $91.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, January 9th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Akamai Technologies presently has a consensus rating of “Buy” and a consensus price target of $81.63.
A number of hedge funds have recently bought and sold shares of AKAM. Chicago Equity Partners LLC bought a new position in Akamai Technologies in the third quarter valued at about $296,000. Skandinaviska Enskilda Banken AB publ raised its stake in Akamai Technologies by 5.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 26,727 shares of the technology infrastructure company’s stock valued at $1,955,000 after purchasing an additional 1,300 shares during the period. ING Groep NV bought a new stake in Akamai Technologies during the 3rd quarter valued at approximately $706,000. SG Americas Securities LLC raised its stake in Akamai Technologies by 441.1% during the 3rd quarter. SG Americas Securities LLC now owns 64,376 shares of the technology infrastructure company’s stock valued at $4,709,000 after purchasing an additional 52,479 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Akamai Technologies by 2.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 632,154 shares of the technology infrastructure company’s stock valued at $46,242,000 after purchasing an additional 14,815 shares during the period. 87.88% of the stock is currently owned by institutional investors.
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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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