Akamai Technologies, Inc. (NASDAQ:AKAM) Short Interest Update

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 6,590,000 shares, a decrease of 16.2% from the March 15th total of 7,860,000 shares. Approximately 4.6% of the company's stock are short sold. Based on an average daily volume of 2,660,000 shares, the days-to-cover ratio is currently 2.5 days.

Insider Activity at Akamai Technologies

In related news, EVP Aaron Ahola sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total value of $323,680.00. Following the transaction, the executive vice president now directly owns 25,211 shares of the company's stock, valued at approximately $2,040,074.12. This represents a 13.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO F Thomson Leighton purchased 37,670 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares of the company's stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 31,394 shares of company stock valued at $2,653,043. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of AKAM. TCTC Holdings LLC lifted its stake in Akamai Technologies by 17.0% in the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Akamai Technologies by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock worth $1,912,000 after buying an additional 114 shares during the period. Koshinski Asset Management Inc. raised its holdings in shares of Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company's stock worth $752,000 after buying an additional 116 shares during the period. Delta Capital Management LLC lifted its stake in shares of Akamai Technologies by 4.5% during the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company's stock worth $267,000 after acquiring an additional 120 shares during the last quarter. Finally, Tandem Investment Advisors Inc. boosted its holdings in Akamai Technologies by 0.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 30,096 shares of the technology infrastructure company's stock valued at $2,879,000 after acquiring an additional 140 shares during the period. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded up $2.22 during trading hours on Wednesday, hitting $75.89. The company's stock had a trading volume of 2,079,992 shares, compared to its average volume of 1,925,072. The company has a market cap of $11.09 billion, a PE ratio of 23.28, a PEG ratio of 2.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The business has a 50 day moving average price of $80.46 and a two-hundred day moving average price of $91.43. Akamai Technologies has a 12-month low of $67.51 and a 12-month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly 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 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Analysts expect that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Bank of America lowered Akamai Technologies from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research report on Friday, February 21st. Raymond James dropped their target price on Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a research report 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.75.

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.