Akamai Technologies (NASDAQ:AKAM) Research Coverage Started at Oppenheimer

Oppenheimer began coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a report released on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $100.00 price objective on the technology infrastructure company’s stock.

Several other brokerages also recently issued reports on AKAM. Citigroup lowered their price target on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday, February 21st. Susquehanna decreased their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Trading Down 0.6 %

AKAM stock opened at $81.04 on Thursday. Akamai Technologies has a 52 week low of $75.50 and a 52 week high of $110.14. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $90.58 and a 200-day simple moving average of $95.24.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, equities research analysts expect that Akamai Technologies will post 4.6 EPS for the current year.

Insider Buying and Selling

In other news, CEO F Thomson Leighton bought 37,670 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,394 shares of company stock valued at $3,019,323 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the fourth quarter valued at $49,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after buying an additional 11,272 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after buying an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after buying an additional 46,335 shares in the last quarter. Finally, Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies in the fourth quarter valued at $827,000. Institutional investors 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.