Insider Selling: Akamai Technologies, Inc. (AKAM) Insider Sells $498,100.00 in Stock
Akamai Technologies, Inc. (NASDAQ:AKAM) insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total value of $498,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Akamai Technologies, Inc. (AKAM) opened at 50.63 on Friday. The stock has a market capitalization of $8.68 billion, a PE ratio of 28.91 and a beta of 0.65. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $71.64. The firm has a 50 day moving average price of $47.26 and a 200 day moving average price of $51.10.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The business had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Analysts predict that Akamai Technologies, Inc. will post $2.52 earnings per share for the current fiscal year.
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A number of analysts have issued reports on AKAM shares. B. Riley reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research note on Sunday, June 11th. BidaskClub downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $70.00 price objective (down previously from $73.00) on shares of Akamai Technologies in a research note on Monday, July 17th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, Vetr downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a research note on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $60.28.
Several hedge funds and other institutional investors have recently modified their holdings of AKAM. First Trust Advisors LP boosted its holdings in Akamai Technologies by 41.8% in the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock valued at $241,545,000 after purchasing an additional 1,428,886 shares during the period. Janus Henderson Group PLC boosted its holdings in Akamai Technologies by 5,158.8% in the second quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock valued at $59,877,000 after purchasing an additional 1,179,251 shares during the period. Fairpointe Capital LLC boosted its holdings in Akamai Technologies by 44.0% in the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after purchasing an additional 981,069 shares during the period. ETF Managers Group LLC purchased a new position in Akamai Technologies in the second quarter valued at $45,156,000. Finally, Thrivent Financial For Lutherans boosted its holdings in Akamai Technologies by 83.4% in the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock valued at $95,080,000 after purchasing an additional 867,795 shares during the period. 84.49% of the stock is owned by institutional investors and hedge funds.
About Akamai Technologies
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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