Akamai Technologies (NASDAQ:AKAM) Downgraded to Neutral Rating by Piper Sandler

Piper Sandler lowered shares of Akamai Technologies (NASDAQ:AKAM) from an overweight rating to a neutral rating in a research report report published on Friday morning, Marketbeat.com reports. Piper Sandler currently has $100.00 price objective on the technology infrastructure company’s stock, down from their previous price objective of $112.00.

Several other equities analysts have also issued reports on the stock. Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. TD Cowen cut Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $125.00 to $98.00 in a research note on Friday. Evercore ISI restated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Citigroup decreased their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.90.

Akamai Technologies Trading Down 21.7 %

AKAM opened at $76.73 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.58 and a beta of 0.65. Akamai Technologies has a 12 month low of $76.50 and a 12 month high of $113.36. The stock has a fifty day moving average price of $96.15 and a 200-day moving average price of $97.86.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts anticipate that Akamai Technologies will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Akamai Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Akamai Technologies by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock valued at $10,315,000 after acquiring an additional 12,913 shares during the period. Signaturefd LLC grew its holdings in Akamai Technologies by 10.1% in the third quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock valued at $142,000 after purchasing an additional 129 shares during the period. Eastern Bank acquired a new stake in Akamai Technologies in the third quarter valued at approximately $71,000. Private Advisor Group LLC increased its position in shares of Akamai Technologies by 8.0% in the third quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after buying an additional 477 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $30,470,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Company Profile

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.