Akamai Technologies (NASDAQ:AKAM) Cut to “Hold” at Craig Hallum

Craig Hallum lowered shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has $90.00 price target on the technology infrastructure company’s stock.

Several other research firms have also recently weighed in on AKAM. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. Scotiabank reduced their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $112.00 to $100.00 in a research report on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Stock Down 21.7 %

AKAM stock opened at $76.73 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $11.53 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.50 and a beta of 0.65. The business has a 50-day moving average of $96.15 and a 200-day moving average of $97.94. Akamai Technologies has a fifty-two week low of $76.50 and a fifty-two week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data 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 firm 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 14.47% and a net margin of 12.65%. On average, sell-side analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock valued at $1,523,951 over the last three months. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC raised its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in 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 acquiring an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies in the 4th quarter valued at $49,000. Bruce G. Allen Investments LLC raised its holdings in 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 valued at $53,000 after acquiring an additional 155 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Akamai Technologies in the 4th quarter valued at $57,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.