Robert W. Baird Lowers Akamai Technologies (NASDAQ:AKAM) Price Target to $115.00

Akamai Technologies (NASDAQ:AKAM) had its price objective dropped by equities research analysts at Robert W. Baird from $120.00 to $115.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology infrastructure company’s stock. Robert W. Baird’s price target would indicate a potential upside of 27.66% from the company’s previous close.

Several other research firms have also commented on AKAM. Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. TD Cowen lifted their target price on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Monday, July 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Trading Down 1.1 %

Shares of AKAM opened at $90.08 on Monday. The stock has a market capitalization of $13.65 billion, a PE ratio of 26.65, a P/E/G ratio of 2.87 and a beta of 0.68. The company’s fifty day moving average is $100.46 and its 200 day moving average is $97.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

Insider Activity

In related news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,500 shares of company stock worth $741,655. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the last quarter. Versant Capital Management Inc increased its position in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new stake in Akamai Technologies in the second quarter valued at about $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the first quarter worth about $31,000. Finally, Family Firm Inc. acquired a new position in shares of Akamai Technologies during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.