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

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given an average recommendation of “Moderate Buy” by the twenty-two analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, fourteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year 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 several recent analyst reports. Robert W. Baird cut their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Scotiabank reduced their target price 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. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Finally, 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.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $91.01 on Monday. The company’s fifty day simple moving average is $94.02 and its two-hundred day simple moving average is $97.37. 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 $13.67 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. The trade was a 13.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,282 shares of company stock worth $2,099,996. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise raised its stake in Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after buying an additional 20,633 shares during the last quarter. Principal Financial Group Inc. increased its position in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Akamai Technologies by 1.3% during 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 acquiring an additional 11,272 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in 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 acquiring an additional 46,335 shares during the period. Finally, Sompo Asset Management Co. Ltd. boosted its position in Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock worth $2,009,000 after purchasing an additional 11,890 shares during the last quarter. 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.