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

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 8,820,000 shares, a decrease of 14.1% from the February 13th total of 10,270,000 shares. Based on an average daily volume of 2,370,000 shares, the short-interest ratio is currently 3.7 days. Approximately 6.0% of the company's shares are short sold.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock traded down $0.51 on Friday, reaching $81.04. 3,874,791 shares of the stock were exchanged, compared to its average volume of 1,830,363. Akamai Technologies has a 1-year low of $75.50 and a 1-year high of $110.14. 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 business has a fifty day moving average price of $90.58 and a two-hundred day moving average price of $95.24. The firm has a market capitalization of $12.18 billion, a PE ratio of 24.86, a PEG ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, research analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna lowered their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada reduced their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock. Finally, Citigroup dropped their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.55.

Insider Transactions at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,211 shares in the company, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. Company insiders own 1.80% of the company's stock.

Institutional Trading of Akamai Technologies

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. boosted its holdings in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies in the 4th quarter worth about $49,000. Bruce G. Allen Investments LLC increased its position in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter worth about $57,000. Finally, LRI Investments LLC grew its position in shares of Akamai Technologies by 500.0% during the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock valued at $60,000 after buying an additional 520 shares during the last quarter. 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.