Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $90.00 at Morgan Stanley

Akamai Technologies (NASDAQ:AKAM - Free Report) had its target price decreased by Morgan Stanley from $102.00 to $90.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology infrastructure company's stock.

Several other brokerages have also recently weighed in on AKAM. Craig Hallum cut Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a report on Friday, February 21st. Raymond James lowered their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their target price for the company from $125.00 to $98.00 in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Finally, Evercore ISI reiterated an "outperform" rating and set a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.75.

Akamai Technologies Trading Down 2.1 %

Shares of NASDAQ:AKAM traded down $1.54 on Wednesday, hitting $71.92. 1,067,866 shares of the company's stock were exchanged, compared to its average volume of 1,922,892. The business's 50 day simple moving average is $81.56 and its two-hundred day simple moving average is $91.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80. 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 released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Analysts anticipate that Akamai Technologies will post 4.6 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 6,431 shares of Akamai Technologies stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the sale, the chief operating officer now owns 14,239 shares of the company's stock, valued at $1,146,097.11. The trade was a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO F Thomson Leighton purchased 37,670 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 31,394 shares of company stock worth $2,653,043. Company insiders own 1.80% of the company's stock.

Institutional Trading of Akamai Technologies

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Akamai Technologies in the fourth quarter valued at $477,454,000. First Trust Advisors LP grew its holdings in Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after acquiring an additional 690,341 shares during the period. National Pension Service raised its position in Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock valued at $30,504,000 after acquiring an additional 273,043 shares in the last quarter. GAMMA Investing LLC boosted its position in Akamai Technologies by 5,951.4% in the 1st quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company's stock worth $20,445,000 after purchasing an additional 249,781 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company's stock valued at $74,473,000 after purchasing an additional 235,394 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

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.