The CEO of Akamai (NASDAQ: AKAM) is Buying Shares

By Carrie Williams

Today, the CEO of Akamai (NASDAQ: AKAM), Thomson Leighton, bought shares of AKAM for $3.91M.

Following Thomson Leighton’s last AKAM Buy transaction on March 17, 2016, the stock climbed by 9.1%. Following this transaction Thomson Leighton’s holding in the company was increased by 3.19% to a total of $233 million.

Based on Akamai’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $621 million and quarterly net profit of $60.51 million. In comparison, last year the company earned revenue of $584 million and had a net profit of $76 million. The company has a one-year high of $71.64 and a one-year low of $44.65. AKAM’s market cap is $11.06B and the company has a P/E ratio of 39.27.

30 different firms, including B.Riley FBR and Cowen & Co., currently also have a Buy rating on the stock. One of the top 25 analysts, according to TipRanks.com, recently recommended Buy AKAM with a $80 price target. Based on 19 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $65.33, reflecting a 0.2% upside.

The insider sentiment on Akamai has been neutral according to 93 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. provides 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.