Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Akamai Technologies, Inc. (NASDAQ:AKAM) has been given an average rating of “Moderate Buy” by the twenty-two research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $107.55.

A number of brokerages recently weighed in on AKAM. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. Susquehanna lowered their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, Citigroup dropped their target price on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,176 shares of company stock valued at $3,759,934 in the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% in 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. lifted its holdings in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after buying an additional 234 shares during the period. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies during the 4th quarter valued at $49,000. Bruce G. Allen Investments LLC increased its holdings in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Akamai Technologies in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 3.9 %

NASDAQ:AKAM opened at $84.15 on Tuesday. Akamai Technologies has a one year low of $75.50 and a one year high of $111.79. The company’s 50-day simple moving average is $92.83 and its 200 day simple moving average is $96.48. The firm has a market capitalization of $12.65 billion, a P/E ratio of 25.81, a PEG ratio of 2.74 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, analysts forecast that Akamai Technologies will post 4.6 EPS for the current fiscal year.

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.