Akamai Technologies Inc. (AKAM) EVP Melanie Haratunian Sells 12,129 Shares
Akamai Technologies Inc. (NASDAQ:AKAM) EVP Melanie Haratunian sold 12,129 shares of Akamai Technologies stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $56.00, for a total value of $679,224.00. Following 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 legal filing with the SEC, which is available 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 shares were sold at an average price of $53.49, for a total value of $1,116,603.75.
Akamai Technologies Inc. (NASDAQ:AKAM) opened at 54.95 on Friday. Akamai Technologies Inc. has a one year low of $39.43 and a one year high of $76.39. The firm has a 50-day moving average price of $53.41 and a 200-day moving average price of $53.25. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 30.16 and a beta of 1.49.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The company had revenue of $572 million for the quarter, compared to analyst estimates of $574.86 million. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Akamai Technologies Inc. will post $2.57 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new position in Akamai Technologies during the second quarter worth $73,367,000. Capital World Investors raised 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 worth $840,555,000 after buying an additional 1,126,696 shares in the last quarter. William Blair Investment Management LLC raised 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 worth $247,689,000 after buying an additional 728,294 shares in the last quarter. PGGM Investments bought a new position in Akamai Technologies during the second quarter worth $30,442,000. Finally, Obermeyer Wood Investment Counsel Lllp bought a new position in Akamai Technologies during the second quarter worth $26,058,000. Institutional investors own 89.88% of the company’s stock.
Several equities analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $62.00 price objective on shares of Akamai Technologies in a report on Monday, August 1st. JPMorgan Chase & Co. restated a “hold” rating on shares of Akamai Technologies in a research note on Sunday, July 17th. MKM Partners restated a “buy” rating and issued a $68.00 target price on shares of Akamai Technologies in a research note on Saturday, July 9th. FBR & Co cut their target price on Akamai Technologies from $43.00 to $42.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. cut their target price on Akamai Technologies from $69.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $61.50.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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