Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $117.95 Average PT from Brokerages

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned an average recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $117.95.

Several research analysts have recently issued reports on the company. Scotiabank decreased their target price 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. Citigroup decreased their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Robert W. Baird dropped their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th.

Akamai Technologies Price Performance

AKAM stock opened at $99.37 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. Akamai Technologies has a 1 year low of $84.70 and a 1 year high of $113.36. The firm has a 50-day moving average of $96.63 and a 200 day moving average of $97.95. The company has a market cap of $14.93 billion, a P/E ratio of 29.40, a PEG ratio of 3.56 and a beta of 0.65.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akamai Technologies

Several hedge funds have recently modified their holdings of the company. First Trust Advisors LP raised its holdings in Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after purchasing an additional 690,341 shares during the period. Norges Bank acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $477,454,000. Geode Capital Management LLC raised its stake in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after buying an additional 202,746 shares during the period. Earnest Partners LLC grew its stake in Akamai Technologies by 2.7% in the 4th quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock valued at $211,935,000 after acquiring an additional 58,013 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

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.