Rick M. Mcconnell Sells 2,743 Shares of Akamai Technologies, Inc. (AKAM) Stock

Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 2,743 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the sale, the insider now owns 37,010 shares in the company, valued at approximately $2,035,550. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of Akamai Technologies, Inc. (AKAM) traded up $0.18 on Friday, hitting $55.44. The company’s stock had a trading volume of 3,349,176 shares, compared to its average volume of 2,190,612. Akamai Technologies, Inc. has a twelve month low of $44.65 and a twelve month high of $71.64. The firm has a market cap of $9,350.00, a P/E ratio of 28.00, a PEG ratio of 2.14 and a beta of 0.66. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. During the same period last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. equities analysts expect that Akamai Technologies, Inc. will post 1.88 EPS for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its stake in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $117,000. BB&T Investment Services Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $119,000. FTB Advisors Inc. increased its stake in shares of Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares during the last quarter. Finally, Tobam acquired a new stake in shares of Akamai Technologies in the 2nd quarter worth $153,000. 84.30% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the company. B. Riley restated a “buy” rating and issued a $60.00 price objective on shares of Akamai Technologies in a research report on Friday, July 28th. BidaskClub lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Piper Jaffray Companies restated a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday, July 26th. SunTrust Banks, Inc. restated a “hold” rating on shares of Akamai Technologies in a research report on Wednesday, October 25th. Finally, Cowen and Company restated a “hold” rating and issued a $60.00 price objective on shares of Akamai Technologies in a research report on Friday, July 28th. 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. Akamai Technologies presently has an average rating of “Hold” and an average price target of $60.73.

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.

Insider Buying and Selling by Quarter for Akamai Technologies (NASDAQ:AKAM)

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