Akamai Technologies, Inc. (AKAM) Insider William Wheaton Sells 5,000 Shares

Akamai Technologies, Inc. (NASDAQ:AKAM) insider William Wheaton sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $80.05, for a total value of $400,250.00. Following the completion of the transaction, the insider now owns 22,437 shares of the company’s stock, valued at $1,796,081.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

William Wheaton also recently made the following trade(s):

  • On Wednesday, May 9th, William Wheaton sold 5,000 shares of Akamai Technologies stock. The shares were sold at an average price of $75.00, for a total value of $375,000.00.
  • On Friday, May 4th, William Wheaton sold 7,500 shares of Akamai Technologies stock. The shares were sold at an average price of $71.00, for a total value of $532,500.00.

Shares of Akamai Technologies traded up $0.20, reaching $81.15, on Thursday, Marketbeat.com reports. 65,779 shares of the company were exchanged, compared to its average volume of 1,859,434. Akamai Technologies, Inc. has a one year low of $44.65 and a one year high of $81.38. The stock has a market cap of $13.52 billion, a P/E ratio of 42.67, a P/E/G ratio of 2.25 and a beta of 0.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Monday, April 30th. The technology infrastructure company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. Akamai Technologies had a return on equity of 10.04% and a net margin of 7.46%. The company had revenue of $669.00 million for the quarter, compared to analysts’ expectations of $654.37 million. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. analysts forecast that Akamai Technologies, Inc. will post 2.45 earnings per share for the current fiscal year.

Akamai Technologies announced that its Board of Directors has initiated a share repurchase program on Thursday, March 8th that authorizes the company to buyback $417.00 million in outstanding shares. This buyback authorization authorizes the technology infrastructure company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently made changes to their positions in the company. First Republic Investment Management Inc. raised its stake in Akamai Technologies by 2.9% in the 1st quarter. First Republic Investment Management Inc. now owns 23,987 shares of the technology infrastructure company’s stock valued at $1,702,000 after acquiring an additional 670 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Akamai Technologies by 2.1% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 37,317 shares of the technology infrastructure company’s stock valued at $2,649,000 after acquiring an additional 761 shares during the period. GHP Investment Advisors Inc. raised its stake in Akamai Technologies by 2.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 31,445 shares of the technology infrastructure company’s stock valued at $2,045,000 after acquiring an additional 825 shares during the period. Suntrust Banks Inc. raised its stake in Akamai Technologies by 19.6% in the 4th quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock valued at $328,000 after acquiring an additional 829 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in Akamai Technologies by 2.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock valued at $2,135,000 after acquiring an additional 937 shares during the period. Institutional investors own 91.53% of the company’s stock.

Several equities analysts recently issued reports on the company. KeyCorp upgraded Akamai Technologies from an “underweight” rating to a “sector weight” rating and set a $57.00 price objective for the company in a research report on Thursday, March 15th. Craig Hallum reiterated a “buy” rating and issued a $91.00 price objective (up from $84.00) on shares of Akamai Technologies in a research report on Tuesday, May 1st. ValuEngine upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. DA Davidson set a $80.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research report on Tuesday, May 1st. Finally, SunTrust Banks upped their price target on Akamai Technologies to $78.00 and gave the stock a “hold” rating in a research report on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $73.91.

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. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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

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