Akamai Technologies, Inc. (NASDAQ:AKAM) EVP James Gemmell Sells 10,065 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) EVP James Gemmell sold 10,065 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $85.80, for a total transaction of $863,577.00. Following the completion of the transaction, the executive vice president now owns 1,439 shares of the company’s stock, valued at $123,466.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of AKAM traded up $2.06 during trading hours on Friday, hitting $87.71. 1,775,700 shares of the stock were exchanged, compared to its average volume of 1,731,779. The business has a 50-day moving average of $88.91 and a 200-day moving average of $84.46. The firm has a market capitalization of $13.83 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.08 and a beta of 0.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.74 and a quick ratio of 2.95. Akamai Technologies, Inc. has a fifty-two week low of $57.18 and a fifty-two week high of $93.12.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The company had revenue of $709.91 million during the quarter, compared to the consensus estimate of $701.25 million. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, analysts forecast that Akamai Technologies, Inc. will post 3.44 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the stock. B. Riley upped their price target on shares of Akamai Technologies from $102.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Cowen set a $93.00 price target on shares of Akamai Technologies and gave the company a “hold” rating in a research report on Wednesday, July 31st. Craig Hallum upped their price target on shares of Akamai Technologies from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Guggenheim cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Oppenheimer increased their price objective on shares of Akamai Technologies from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $92.19.

Several hedge funds have recently made changes to their positions in AKAM. Nuveen Asset Management LLC raised its holdings in shares of Akamai Technologies by 37,980.9% in the second quarter. Nuveen Asset Management LLC now owns 4,030,480 shares of the technology infrastructure company’s stock valued at $323,002,000 after purchasing an additional 4,019,896 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Akamai Technologies by 15.1% in the second quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock valued at $402,178,000 after purchasing an additional 664,795 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Akamai Technologies by 1.8% in the second quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock valued at $1,372,971,000 after purchasing an additional 307,796 shares during the last quarter. Renaissance Group LLC purchased a new stake in shares of Akamai Technologies in the third quarter valued at about $27,537,000. Finally, Cookson Peirce & Co. Inc. purchased a new stake in shares of Akamai Technologies in the third quarter valued at about $25,013,000. Institutional investors own 88.34% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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