Today, a Director at Akamai (NASDAQ: AKAM), Paul Sagan, bought shares of AKAM for $1.5M.
Following Paul Sagan’s last AKAM Buy transaction on August 07, 2017, the stock climbed by 29.2%. This recent transaction increases Paul Sagan’s holding in the company by 33.95% to a total of $8.81 million.
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Based on Akamai’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $669 million and quarterly net profit of $53.71 million. In comparison, last year the company earned revenue of $609 million and had a net profit of $57.77 million. AKAM’s market cap is $13.07B and the company has a P/E ratio of 69.54. Currently, Akamai has an average volume of 900.6K.
30 different firms, including B.Riley FBR and Cowen & Co., currently also have a Buy rating on the stock. Starting in May 2018, AKAM received 10 Buy ratings in a row. Based on 10 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $86.00, reflecting a -9.7% downside.
Paul Sagan’s trades have generated a 22.6% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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Akamai Technologies, Inc. engages in the provision of cloud services for delivering, optimizing and securing content and business applications over the Internet. Its products offers web and mobile performance solutions, cloud security solutions, enterprise solutions, network operator solutions, media delivery solutions and services and support solutions.
