Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $116.10 Average PT from Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given a consensus rating of “Moderate Buy” by the twenty-two research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $116.10.

AKAM has been the subject of several analyst reports. UBS Group began coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Citigroup dropped their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, December 2nd. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AKAM. Farther Finance Advisors LLC lifted its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the period. Eastern Bank acquired a new position in shares of Akamai Technologies during the 3rd quarter valued at about $71,000. Covestor Ltd grew its holdings in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in Akamai Technologies during the third quarter worth about $102,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Trading Up 1.9 %

NASDAQ AKAM opened at $97.70 on Monday. Akamai Technologies has a 1 year low of $84.70 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $14.68 billion, a PE ratio of 28.91, a P/E/G ratio of 3.40 and a beta of 0.64. The company has a fifty day moving average of $94.59 and a 200 day moving average of $97.47.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.