Megaport (ASX:MP1) Insider Michael Reid Acquires 112,739 Shares of Stock

Megaport Limited (ASX:MP1) insider Michael Reid purchased 112,739 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average cost of A$7.38 per share, for a total transaction of A$832,013.82.

Megaport Stock Performance

The company has a current ratio of 2.30, a quick ratio of 1.86 and a debt-to-equity ratio of 10.25. The firm has a market capitalization of $1.42 billion, a P/E ratio of 158.38 and a beta of 0.96.

Megaport Company Profile

Megaport Limited provides elastic interconnection services to the enterprises and service providers in Australia, New Zealand, Hong Kong, Singapore, Japan, North America, and Europe. It operates a platform that enables customers to connect their network to other services, as well as creates agile network that connects in multiple regions. The company also offers Megaport Virtual Edge, an on-demand and vendor-neutral Network Function Virtualization service that provides virtual infrastructure for network services at the edge of Megaport's global software-defined network; internet exchange services; and Megaport Marketplace, an online hub the interconnects service providers and enterprise customers.