Akamai Technologies Inc. (NASDAQ:AKAM) Director Paul Sagan sold 23,255 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $51.33, for a total value of $1,193,679.15. Following the completion of the transaction, the director now directly owns 65,077 shares of the company’s stock, valued at approximately $3,340,402.41. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Akamai Technologies Inc. (NASDAQ:AKAM) opened at 52.21 on Thursday. Akamai Technologies Inc. has a 12-month low of $39.43 and a 12-month high of $76.39. The firm’s 50-day moving average price is $52.64 and its 200-day moving average price is $53.41. The company has a market capitalization of $9.12 billion, a PE ratio of 28.66 and a beta of 1.47.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The firm had revenue of $572 million for the quarter, compared to the consensus estimate of $574.86 million. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Akamai Technologies Inc. will post $2.57 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its position in Akamai Technologies by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 900 shares during the last quarter. Advisory Services Network LLC increased its position in Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock valued at $102,000 after buying an additional 175 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Akamai Technologies by 2.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,142 shares of the technology infrastructure company’s stock valued at $119,000 after buying an additional 56 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in Akamai Technologies by 142.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,659 shares of the technology infrastructure company’s stock valued at $149,000 after buying an additional 1,562 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock valued at $154,000 after buying an additional 250 shares during the last quarter. 89.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on AKAM. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Sunday, July 17th. B. Riley reissued a “buy” rating and issued a $62.00 target price on shares of Akamai Technologies in a report on Wednesday, July 27th. MKM Partners reissued a “buy” rating and issued a $68.00 target price on shares of Akamai Technologies in a report on Saturday, July 9th. FBR & Co reduced their target price on Akamai Technologies from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reduced their target price on Akamai Technologies from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $61.35.

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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

5 Day Chart for NASDAQ:AKAM

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