The President and GM Security of Akamai (NASDAQ: AKAM) is Selling Shares

Yesterday, the President and GM Security of Akamai (AKAMResearch Report), Rick Mcconnell, sold shares of AKAM for $1.65M.

Following Rick Mcconnell’s last AKAM Sell transaction on May 26, 2020, the stock climbed by 10.7%.

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Based on Akamai’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $843 million and quarterly net profit of $156 million. In comparison, last year the company earned revenue of $764 million and had a net profit of $123 million. The company has a one-year high of $124.91 and a one-year low of $92.64. AKAM’s market cap is $18.09 billion and the company has a P/E ratio of 40.50.

Based on 8 analyst ratings, the analyst consensus is Strong Buy with an average price target of $123.75, reflecting a -10.5% downside.

The insider sentiment on Akamai has been negative according to 65 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Rick Mcconnell’s trades have generated a 1.0% 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. 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.