Akamai Technologies (NASDAQ:AKAM) Now Covered by UBS Group

UBS Group began coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a research note published on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $110.00 price objective on the technology infrastructure company’s stock.

AKAM has been the subject of several other reports. Robert W. Baird reduced their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, November 11th. Finally, Scotiabank dropped their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $116.85.

Akamai Technologies Price Performance

AKAM stock opened at $94.12 on Monday. The stock has a market cap of $14.14 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. The stock has a 50-day moving average price of $97.86 and a two-hundred day moving average price of $96.63. Akamai Technologies has a 1 year low of $84.70 and a 1 year high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,282 shares of company stock valued at $1,733,716. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently bought and sold shares of AKAM. Farther Finance Advisors LLC boosted its position in shares of 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 acquiring an additional 114 shares during the period. Innealta Capital LLC bought a new position in Akamai Technologies in the 2nd quarter worth about $28,000. Family Firm Inc. purchased a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $35,000. Eastern Bank bought a new stake in shares of Akamai Technologies during the 3rd quarter valued at about $71,000. Finally, Covestor Ltd grew its holdings in shares of Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares in the last quarter. 94.28% of the stock is owned by 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.