Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $116.10

Shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Free Report) have been given an average rating of “Moderate Buy” by the twenty-two brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $116.10.

A number of brokerages recently issued reports on AKAM. UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th.

View Our Latest Report on Akamai Technologies

Insider Activity at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,282 shares of company stock valued at $2,099,996. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AKAM. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Akamai Technologies by 2.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock valued at $473,000 after acquiring an additional 118 shares during the last quarter. AE Wealth Management LLC increased its stake in Akamai Technologies by 20.1% in the second quarter. AE Wealth Management LLC now owns 24,474 shares of the technology infrastructure company’s stock valued at $2,205,000 after purchasing an additional 4,092 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Akamai Technologies by 7.5% during the 2nd quarter. ProShare Advisors LLC now owns 34,319 shares of the technology infrastructure company’s stock worth $3,091,000 after buying an additional 2,402 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Akamai Technologies by 79.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,975 shares of the technology infrastructure company’s stock valued at $538,000 after buying an additional 2,654 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new position in shares of Akamai Technologies during the second quarter worth about $207,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $95.11 on Monday. The business’s 50-day moving average is $94.24 and its 200 day moving average is $97.38. Akamai Technologies has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a market capitalization of $14.29 billion, a P/E ratio of 28.14, a P/E/G ratio of 3.25 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

About Akamai Technologies

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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.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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