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

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $117.95.

A number of brokerages recently issued reports on AKAM. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Citigroup decreased their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, UBS Group began coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,782 shares of company stock worth $1,523,951. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $477,454,000. Geode Capital Management LLC grew its holdings in shares of Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares during the period. Nordea Investment Management AB grew its holdings in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after buying an additional 138,380 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after buying an additional 88,732 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company’s stock valued at $88,213,000 after buying an additional 29,888 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Trading Down 1.4 %

Akamai Technologies stock opened at $99.66 on Friday. The company’s fifty day simple moving average is $96.56 and its 200-day simple moving average is $97.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 12 month low of $84.70 and a 12 month high of $122.00. The stock has a market cap of $14.97 billion, a P/E ratio of 29.49, a P/E/G ratio of 3.56 and a beta of 0.65.

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.