The President and GM Web Division of Akamai (AKAM) is Selling Shares

Today, the President and GM Web Division of Akamai (AKAM), Rick Mcconnell, sold shares of AKAM for $543.8K.

Following Rick Mcconnell’s last AKAM Sell transaction on December 15, 2017, the stock climbed by 42.7%. In addition to Rick Mcconnell, one other AKAM executive reported Sell trades in the last month.

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Based on Akamai’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $764 million and quarterly net profit of $123 million. In comparison, last year the company earned revenue of $707 million and had a net profit of $107 million. The company has a one-year high of $108.25 and a one-year low of $73.19. AKAM’s market cap is $16.3 billion and the company has a P/E ratio of 33.50.

Based on 15 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $111.07, reflecting a -8.2% downside.

The insider sentiment on Akamai has been negative according to 51 insider trades in the past three months. This sentiment is lower 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. It also engages in content delivery network, or CDN, services to make the Internet fast, reliable and secure. The company was founded by Frank Thomson Leighton, Jonathan Seelig, Randall S. Kaplan, and Daniel Mark Lewin on August 20, 1998 and is headquartered in Cambridge, MA.

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