A Director at Akamai (AKAM) is Selling Shares


Today, a Director at Akamai (NASDAQ: AKAM), Naomi Seligman, sold shares of AKAM for $449K.

Following Naomi Seligman’s last AKAM Sell transaction on March 17, 2017, the stock climbed by 10.7%. In addition to Naomi Seligman, 3 other AKAM executives reported Sell trades in the last month.

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Based on Akamai’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $663 million and quarterly net profit of $43.06 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 $12.79B and the company has a P/E ratio of 74.19. Currently, Akamai has an average volume of 1.75M.

Based on 10 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $87.13, reflecting a -12.1% downside. Six different firms, including B.Riley FBR and Goldman Sachs, currently also have a Sell rating on the stock.

In the last 30 days, insiders have sold $449K worth of AKAM shares and purchased $4.51M worth of AKAM shares. The insider sentiment on Akamai has been positive according to 67 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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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.

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