Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have received an average rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $116.10.

AKAM has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Evercore ISI reissued an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Finally, Citigroup lowered their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th.

Insider Activity at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s 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 completion of the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock valued at $2,099,996 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

Large investors have recently modified their holdings of the stock. Boston Trust Walden Corp lifted its holdings in shares of Akamai Technologies by 3.9% during the fourth quarter. Boston Trust Walden Corp now owns 328,159 shares of the technology infrastructure company’s stock valued at $31,388,000 after purchasing an additional 12,213 shares during the last quarter. JB Capital LLC raised its holdings in Akamai Technologies by 92.3% during the 4th quarter. JB Capital LLC now owns 48,478 shares of the technology infrastructure company’s stock worth $4,637,000 after buying an additional 23,266 shares during the period. DAVENPORT & Co LLC lifted its stake in Akamai Technologies by 13.4% during the fourth quarter. DAVENPORT & Co LLC now owns 53,883 shares of the technology infrastructure company’s stock valued at $5,154,000 after buying an additional 6,360 shares in the last quarter. Gagnon Securities LLC boosted its holdings in shares of Akamai Technologies by 0.8% in the fourth quarter. Gagnon Securities LLC now owns 29,552 shares of the technology infrastructure company’s stock worth $2,827,000 after buying an additional 243 shares during the period. Finally, Cascade Investment Advisors Inc. purchased a new position in shares of Akamai Technologies in the fourth quarter worth approximately $827,000. 94.28% of the stock is owned by institutional investors.

Akamai Technologies Stock Performance

AKAM stock opened at $97.70 on Monday. The stock’s 50 day simple moving average is $94.59 and its 200 day simple moving average is $97.41. Akamai Technologies has a 12-month low of $84.70 and a 12-month high of $129.17. The firm has a market cap of $14.68 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.40 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

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.