Akamai Technologies, Inc. (NASDAQ:AKAM) CFO Edward J. Mcgowan sold 2,516 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $116.00, for a total transaction of $291,856.00. Following the completion of the transaction, the chief financial officer now directly owns 5,129 shares of the company’s stock, valued at approximately $594,964. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ:AKAM opened at $114.26 on Friday. Akamai Technologies, Inc. has a twelve month low of $75.18 and a twelve month high of $116.39. The company’s 50 day moving average is $103.91 and its 200 day moving average is $96.66. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.69. The company has a market cap of $18.53 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.34.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, April 28th. The technology infrastructure company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $764.30 million for the quarter, compared to analysts’ expectations of $749.75 million. Akamai Technologies had a net margin of 16.74% and a return on equity of 16.54%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. Equities research analysts predict that Akamai Technologies, Inc. will post 3.93 earnings per share for the current fiscal year.
Several research firms have recently commented on AKAM. Nomura Securities reissued a “hold” rating and issued a $115.00 price target (up from $100.00) on shares of Akamai Technologies in a research report on Wednesday, April 15th. SunTrust Banks lifted their price target on shares of Akamai Technologies from $108.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Goldman Sachs Group upped their price objective on shares of Akamai Technologies from $102.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. B. Riley increased their price objective on shares of Akamai Technologies from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $91.00 price objective on shares of Akamai Technologies in a research report on Thursday, April 16th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Akamai Technologies presently has an average rating of “Buy” and an average price target of $112.00.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. grew its stake in shares of Akamai Technologies by 479.8% during the 2nd quarter. Whittier Trust Co. now owns 574 shares of the technology infrastructure company’s stock worth $62,000 after purchasing an additional 475 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Akamai Technologies by 43.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 519,570 shares of the technology infrastructure company’s stock worth $55,641,000 after purchasing an additional 156,826 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $107,000. Exane Derivatives grew its stake in shares of Akamai Technologies by 62,142.9% during the 2nd quarter. Exane Derivatives now owns 8,714 shares of the technology infrastructure company’s stock worth $933,000 after purchasing an additional 8,700 shares during the period. Finally, Gradient Investments LLC grew its stake in shares of Akamai Technologies by 282,485.7% during the 2nd quarter. Gradient Investments LLC now owns 39,562 shares of the technology infrastructure company’s stock worth $4,237,000 after purchasing an additional 39,548 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.
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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