Akamai Technologies, Inc. (NASDAQ:AKAM) insider Rick M. Mcconnell sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $54.19, for a total value of $214,917.54. Following the completion of the sale, the insider now directly owns 39,753 shares of the company’s stock, valued at $2,154,215.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Akamai Technologies, Inc. (AKAM) opened at 52.25 on Wednesday. The stock has a 50 day moving average price of $49.89 and a 200 day moving average price of $49.93. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 29.84 and a beta of 0.65. Akamai Technologies, Inc. has a 52 week low of $44.65 and a 52 week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that Akamai Technologies, Inc. will post $2.49 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://theolympiareport.com/2017/11/01/rick-m-mcconnell-sells-3966-shares-of-akamai-technologies-inc-akam-stock.html.

A number of analysts have recently issued reports on AKAM shares. Wells Fargo & Company set a $57.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research report on Tuesday, October 10th. Robert W. Baird reissued a “hold” rating and set a $52.00 price target on shares of Akamai Technologies in a report on Friday, September 1st. Credit Suisse Group assumed coverage on Akamai Technologies in a report on Tuesday, September 5th. They set a “neutral” rating and a $50.00 price target for the company. DA Davidson set a $57.00 price target on Akamai Technologies and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, Instinet reissued a “neutral” rating and set a $47.00 price target (down from $48.00) on shares of Akamai Technologies in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $60.73.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Advisory Services Network LLC increased 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 last quarter. Westwood Holdings Group Inc. bought a new position in Akamai Technologies in the second quarter valued at $117,000. BB&T Investment Services Inc. bought a new position in Akamai Technologies in the second quarter valued at $119,000. FTB Advisors Inc. increased 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 last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after acquiring an additional 1,032 shares during the last quarter. 84.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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

Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.