Akamai Technologies, Inc. (NASDAQ:AKAM) Given Average Recommendation of “Moderate Buy” by Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $117.47.

A number of equities analysts have commented on the stock. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. DA Davidson reiterated a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, November 11th. Finally, 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 report on Monday, November 11th.

Akamai Technologies Stock Up 0.2 %

Shares of AKAM stock opened at $94.02 on Friday. Akamai Technologies has a 52-week low of $84.70 and a 52-week high of $129.17. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.57 and a beta of 0.68. The firm’s 50-day moving average is $98.61 and its 200-day moving average is $96.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Activity

In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 11.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,500 shares of company stock worth $1,058,625. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 worth $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Empyrean Capital Partners LP bought a new position in Akamai Technologies in the second quarter valued at about $15,314,000. Renaissance Technologies LLC boosted its stake in shares of Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares in the last quarter. Finally, Distillate Capital Partners LLC acquired a new stake in shares of Akamai Technologies during the second quarter valued at about $14,130,000. Institutional investors and hedge funds 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.