Akamai Technologies (NASDAQ:AKAM) Director Paul Sagan sold 50,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $47.30, for a total transaction of $2,365,000.00. Following the completion of the transaction, the director now directly owns 345,782 shares in the company. The transaction was disclosed in a document filed with the SEC, which is available at this link.
AKAM has been the subject of a number of recent research reports. Analysts at Macquarie reiterated an “outperform” rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note to investors on Thursday, August 15th. They now have a $50.00 price target on the stock, up previously from $46.00. Separately, analysts at Jefferies Group raised their price target on shares of Akamai Technologies (NASDAQ:AKAM) from $44.00 to $45.00 in a research note to investors on Thursday, July 25th. They now have a “hold” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Akamai Technologies (NASDAQ:AKAM) to $35.00 in a research note to investors on Thursday, July 25th. They now have an “underperform” rating on the stock.
Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.53.
Akamai Technologies (NASDAQ:AKAM) traded up 1.03% during mid-day trading on Thursday, hitting $47.92. The stock had a trading volume of 1,123,291 shares. Akamai Technologies has a 52-week low of $32.63 and a 52-week high of $48.47. The stock’s 50-day moving average is $46.26 and its 200-day moving average is $41.9. The company has a market cap of $8.537 billion and a price-to-earnings ratio of 34.62.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Wednesday, July 24th. The company reported $0.46 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.46. The company had revenue of $378.10 million for the quarter, compared to the consensus estimate of $374.31 million. During the same quarter last year, the company posted $0.43 earnings per share. Akamai Technologies’s revenue was up 14.1% compared to the same quarter last year. Analysts expect that Akamai Technologies will post $1.96 EPS for the current fiscal year.
Akamai Technologies, Inc (NASDAQ:AKAM) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet.
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