Akamai Technologies, Inc. (NASDAQ:AKAM) Director Paul Sagan sold 55,500 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $70.46, for a total value of $3,910,530.00. Following the completion of the transaction, the director now owns 59,678 shares in the company, valued at approximately $4,204,911.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of AKAM stock traded down $1.24 during trading hours on Friday, reaching $70.94. The company had a trading volume of 1,786,210 shares, compared to its average volume of 2,657,503. Akamai Technologies, Inc. has a 12 month low of $53.08 and a 12 month high of $83.08. The company has a quick ratio of 2.19, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $12.13 billion, a PE ratio of 37.34, a P/E/G ratio of 1.83 and a beta of 0.56.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. Akamai Technologies had a return on equity of 12.06% and a net margin of 8.39%. The company had revenue of $669.63 million for the quarter, compared to analyst estimates of $664.17 million. During the same quarter last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Akamai Technologies, Inc. will post 2.66 earnings per share for the current fiscal year.
Several research analysts have issued reports on AKAM shares. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 price target on shares of Akamai Technologies in a report on Friday, July 20th. B. Riley cut their price target on Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a report on Monday, July 23rd. ValuEngine upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. BidaskClub lowered Akamai Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Deutsche Bank lowered Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $80.00 in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.29.
A number of institutional investors have recently modified their holdings of AKAM. Exane Derivatives bought a new stake in Akamai Technologies during the third quarter worth $101,000. Flagship Harbor Advisors LLC bought a new stake in Akamai Technologies during the second quarter worth $102,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Akamai Technologies by 291.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,762 shares of the technology infrastructure company’s stock worth $128,000 after acquiring an additional 1,312 shares during the period. Whittier Trust Co. lifted its holdings in Akamai Technologies by 61.7% during the second quarter. Whittier Trust Co. now owns 2,266 shares of the technology infrastructure company’s stock worth $138,000 after acquiring an additional 865 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new stake in Akamai Technologies during the second quarter worth $142,000. Institutional investors and hedge funds own 86.27% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Akamai Technologies, Inc. (AKAM) Director Paul Sagan Sells 55,500 Shares of Stock” was first reported by WKRB News and is owned by of WKRB News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.wkrb13.com/2018/11/10/akamai-technologies-inc-akam-director-paul-sagan-sells-55500-shares-of-stock.html.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
See Also: What are the Benefits of Index Funds?
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.