Akamai Technologies (AKAM) Stock Price Up 0% After Insider Buying Activity

Akamai Technologies, Inc. (NASDAQ:AKAM)’s share price rose 0% during trading on Monday following insider buying activity. The company traded as high as $68.03 and last traded at $65.67. Approximately 15,348,281 shares were traded during mid-day trading, an increase of 577% from the average daily volume of 2,265,477 shares. The stock had previously closed at $65.67.

Specifically, CEO F Thomson Leighton acquired 17,537 shares of the business’s stock in a transaction on Friday, December 15th. The stock was purchased at an average price of $57.01 per share, for a total transaction of $999,784.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 55,752 shares of company stock valued at $2,999,371 and have sold 79,550 shares valued at $4,363,371. 3.20% of the stock is owned by company insiders.

AKAM has been the subject of several research analyst reports. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Vetr upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 target price for the company in a research report on Wednesday, September 6th. Instinet restated a “neutral” rating and set a $47.00 target price (down previously from $48.00) on shares of Akamai Technologies in a research report on Tuesday, September 5th. Zacks Investment Research downgraded Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Wells Fargo & Company set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.09.

The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a market capitalization of $9,770.22, a P/E ratio of 30.08, a P/E/G ratio of 2.28 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 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 analysts’ expectations of $610.66 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. equities research analysts predict that Akamai Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Cadence Capital Management LLC grew its stake in Akamai Technologies by 0.6% in the second quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after acquiring an additional 30 shares during the period. FTB Advisors Inc. grew its stake in Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after acquiring an additional 59 shares during the period. Advisory Services Network LLC grew its stake in Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after acquiring an additional 168 shares during the period. Opes Advisors Inc grew its stake in Akamai Technologies by 5.1% in the second quarter. Opes Advisors Inc now owns 5,509 shares of the technology infrastructure company’s stock valued at $253,000 after acquiring an additional 267 shares during the period. Finally, Mastrapasqua Asset Management Inc. grew its stake in Akamai Technologies by 0.6% in the second quarter. Mastrapasqua Asset Management Inc. now owns 51,432 shares of the technology infrastructure company’s stock valued at $2,562,000 after acquiring an additional 307 shares during the period. 86.56% of the stock is owned by institutional investors and hedge funds.

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Akamai Technologies Company Profile

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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