Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-two research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $116.85.
AKAM has been the subject of several recent research reports. Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Monday, December 2nd. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating for the company in a report on Friday, November 8th. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Tigress Financial reiterated a "strong-buy" rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock.
Read Our Latest Stock Report on Akamai Technologies
Insiders Place Their Bets
In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction that occurred on 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 directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business's 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 of the company's stock, valued at $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 three months, insiders have sold 18,282 shares of company stock valued at $1,733,716. Company insiders own 2.00% of the company's stock.
Institutional Trading of Akamai Technologies
Several hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after buying an additional 114 shares during the last quarter. Innealta Capital LLC bought a new stake in Akamai Technologies during the 2nd quarter valued at $28,000. Eastern Bank bought a new stake in Akamai Technologies during the 3rd quarter valued at $71,000. Covestor Ltd grew its stake 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 worth $90,000 after purchasing an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies during the third quarter valued at $102,000. 94.28% of the stock is currently owned by institutional investors.
Akamai Technologies Trading Up 1.1 %
AKAM traded up $1.05 on Thursday, reaching $97.96. 946,858 shares of the company's stock were exchanged, compared to its average volume of 1,672,387. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $129.17. The company's 50 day moving average is $96.98 and its 200-day moving average is $96.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.83 and a beta of 0.65.
Akamai Technologies Company Profile
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Get Free ReportAkamai 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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