Akamai Technologies, Inc. (NASDAQ:AKAM) Short Interest Update

Akamai Technologies, Inc. (NASDAQ:AKAM) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 10,080,000 shares, an increase of 5.8% from the January 15th total of 9,530,000 shares. Based on an average trading volume of 1,900,000 shares, the days-to-cover ratio is presently 5.3 days. Approximately 6.9% of the shares of the company are sold short.

Insider Activity at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade 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. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Akamai Technologies by 85.7% during the 3rd 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 period. Itau Unibanco Holding S.A. increased its holdings in Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after purchasing an additional 234 shares during the period. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies during the 4th quarter worth $49,000. Bruce G. Allen Investments LLC increased its holdings in Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after purchasing an additional 155 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in Akamai Technologies during the 4th quarter worth $57,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup dropped their price target on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Robert W. Baird dropped their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Evercore ISI reissued an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.95.

Akamai Technologies Trading Up 0.4 %

Shares of NASDAQ AKAM opened at $100.01 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The business’s 50 day moving average price is $96.60 and its 200-day moving average price is $97.88. Akamai Technologies has a fifty-two week low of $84.70 and a fifty-two week high of $114.67. The company has a market cap of $15.02 billion, a price-to-earnings ratio of 29.59, a PEG 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.