Akamai Technologies Inc. (NASDAQ:AKAM) EVP Melanie Haratunian sold 12,129 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $56.00, for a total value of $679,224.00. Following the completion of the transaction, the executive vice president now owns 101,253 shares in the company, valued at approximately $5,670,168. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Melanie Haratunian also recently made the following trade(s): On Friday, August 26th, Melanie Haratunian sold 10,282 shares of Akamai Technologies stock. The shares were sold at an average price of $55.29, for a total value of $568,491.78. On Tuesday, August 23rd, Melanie Haratunian sold 20,875 shares of Akamai Technologies stock. The stock was sold at an average price of $53.49, for a total value of $1,116,603.75.
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) opened at 54.95 on Friday. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 30.16 and a beta of 1.49. Akamai Technologies Inc. has a 1-year low of $39.43 and a 1-year high of $76.39. The company’s 50-day moving average price is $53.41 and its 200 day moving average price is $53.25.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. On average, analysts predict that Akamai Technologies Inc. will post $2.57 earnings per share for the current fiscal year.
A number of analysts recently commented on AKAM shares. Zacks Investment Research lowered Akamai Technologies from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co. upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $59.20 to $51.41 in a report on Friday, August 12th. Mizuho reiterated a “buy” rating and set a $65.00 price target on shares of Akamai Technologies in a report on Monday, October 3rd. Pacific Crest reiterated a “hold” rating on shares of Akamai Technologies in a report on Tuesday, August 2nd. Finally, KeyCorp lowered Akamai Technologies to an “overweight” rating in a report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.50.
Several institutional investors have recently added to or reduced their stakes in AKAM. Massachusetts Financial Services Co. MA purchased a new position in Akamai Technologies during the second quarter valued at $73,367,000. Capital World Investors boosted its position in Akamai Technologies by 8.1% in the second quarter. Capital World Investors now owns 15,028,695 shares of the technology infrastructure company’s stock valued at $840,555,000 after buying an additional 1,126,696 shares during the last quarter. William Blair Investment Management LLC boosted its position in Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock valued at $247,689,000 after buying an additional 728,294 shares during the last quarter. PGGM Investments purchased a new position in Akamai Technologies during the second quarter valued at $30,442,000. Finally, Obermeyer Wood Investment Counsel Lllp purchased a new position in Akamai Technologies during the second quarter valued at $26,058,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.
About Akamai Technologies