Akamai Technologies (NASDAQ:AKAM) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Akamai Technologies (NASDAQ:AKAM - Free Report) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

AKAM has been the topic of several other research reports. TD Cowen upped their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a research report on Friday. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday. DA Davidson reaffirmed a "buy" rating and issued a $115.00 target price on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.47.

Akamai Technologies Stock Performance

NASDAQ AKAM traded down $1.22 during trading on Monday, reaching $89.85. 976,373 shares of the company's stock were exchanged, compared to its average volume of 1,644,431. The business has a 50 day moving average price of $100.66 and a 200-day moving average price of $97.08. The stock has a market capitalization of $13.61 billion, a P/E ratio of 26.94, a PEG ratio of 2.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. Akamai Technologies has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

Insider Activity

In other news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now owns 22,010 shares of the company's stock, valued at $2,216,186.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company's stock.

Institutional Trading of Akamai Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of AKAM. Farther Finance Advisors LLC increased its holdings in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock valued at $25,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc increased its holdings in Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company's stock valued at $28,000 after purchasing an additional 193 shares during the period. Innealta Capital LLC acquired a new stake in Akamai Technologies in the second quarter valued at $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the first quarter valued at $31,000. Finally, Family Firm Inc. acquired a new stake in Akamai Technologies in the second quarter valued at $35,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.