Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) PT at $107.55

Akamai Technologies, Inc. (NASDAQ:AKAM) has been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $107.55.

Several analysts recently commented on the stock. Susquehanna cut their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. UBS Group initiated coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Bank of America cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $100.00 in a research note on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $125.00 to $98.00 in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st.

Insider Buying and Selling at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,176 shares of company stock valued at $3,759,934. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. Norges Bank purchased a new position in Akamai Technologies in the 4th quarter valued at $477,454,000. First Trust Advisors LP lifted its holdings in Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service increased its stake in shares of Akamai Technologies by 595.3% in the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after acquiring an additional 273,043 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Akamai Technologies by 43.4% in the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after acquiring an additional 235,394 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Down 1.3 %

Shares of Akamai Technologies stock opened at $78.66 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $92.21 and its two-hundred day simple moving average is $96.21. The company has a market cap of $11.82 billion, a P/E ratio of 24.13, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies has a 12-month low of $75.50 and a 12-month high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts anticipate that Akamai Technologies will post 4.6 EPS for the current year.

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.