Akamai Technologies, Inc. (AKAM) Insider William Wheaton Sells 3,922 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) insider William Wheaton sold 3,922 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $71.73, for a total transaction of $281,325.06. Following the transaction, the insider now owns 26,820 shares in the company, valued at approximately $1,923,798.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NASDAQ AKAM traded down $1.24 on Friday, reaching $70.94. The company’s stock had a trading volume of 1,786,210 shares, compared to its average volume of 2,657,503. The stock has a market cap of $12.13 billion, a P/E ratio of 37.34, a PEG ratio of 1.83 and a beta of 0.56. Akamai Technologies, Inc. has a 52 week low of $53.08 and a 52 week 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.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Monday, October 29th. The technology infrastructure company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. The firm had revenue of $669.63 million for the quarter, compared to analyst estimates of $664.17 million. Akamai Technologies had a net margin of 8.39% and a return on equity of 12.06%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. Research analysts anticipate that Akamai Technologies, Inc. will post 2.66 earnings per share for the current year.

Akamai Technologies declared that its board has approved a share buyback plan on Monday, October 29th that permits the company to repurchase $1.10 billion in outstanding shares. This repurchase authorization permits the technology infrastructure company to purchase up to 10.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

AKAM has been the topic of a number of analyst reports. ValuEngine raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. B. Riley lowered their target price on shares of Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a research note on Monday, July 23rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $89.00 target price on shares of Akamai Technologies in a research note on Friday, July 20th. Deutsche Bank cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $80.00 in a research note on Wednesday, August 1st. Finally, BidaskClub cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.29.

A number of large investors have recently added to or reduced their stakes in AKAM. Principal Financial Group Inc. boosted its position in Akamai Technologies by 1.5% in the first quarter. Principal Financial Group Inc. now owns 260,048 shares of the technology infrastructure company’s stock valued at $18,458,000 after buying an additional 3,904 shares in the last quarter. DnB Asset Management AS boosted its position in Akamai Technologies by 6.1% in the second quarter. DnB Asset Management AS now owns 17,306 shares of the technology infrastructure company’s stock valued at $1,267,000 after buying an additional 1,000 shares in the last quarter. IFM Investors Pty Ltd boosted its position in Akamai Technologies by 42.1% in the second quarter. IFM Investors Pty Ltd now owns 8,398 shares of the technology infrastructure company’s stock valued at $615,000 after buying an additional 2,490 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Akamai Technologies by 46.9% in the second quarter. State of Alaska Department of Revenue now owns 49,674 shares of the technology infrastructure company’s stock valued at $3,636,000 after buying an additional 15,860 shares in the last quarter. Finally, Addenda Capital Inc. boosted its position in Akamai Technologies by 91.5% in the second quarter. Addenda Capital Inc. now owns 75,014 shares of the technology infrastructure company’s stock valued at $5,405,000 after buying an additional 35,840 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

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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.

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