Akamai Technologies (NASDAQ:AKAM) Upgraded to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other equities analysts have also commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Monday, July 29th. Robert W. Baird dropped their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday. Finally, Piper Sandler decreased their price target on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Stock Down 1.5 %

Shares of NASDAQ:AKAM opened at $88.75 on Monday. Akamai Technologies has a 52-week low of $87.59 and a 52-week high of $129.17. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $100.23 and a two-hundred day moving average of $96.94. The stock has a market cap of $13.33 billion, a P/E ratio of 26.26, a PEG ratio of 3.36 and a beta of 0.68.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $741,655 over the last quarter. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in shares of Akamai Technologies by 14.3% during the 1st quarter. Empowered Funds LLC now owns 3,115 shares of the technology infrastructure company’s stock worth $339,000 after purchasing an additional 390 shares during the period. QRG Capital Management Inc. increased its holdings in Akamai Technologies by 27.0% in the first quarter. QRG Capital Management Inc. now owns 7,878 shares of the technology infrastructure company’s stock valued at $857,000 after buying an additional 1,677 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Akamai Technologies by 9.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,516 shares of the technology infrastructure company’s stock worth $274,000 after acquiring an additional 221 shares in the last quarter. ProShare Advisors LLC raised its holdings in Akamai Technologies by 11.9% during the first quarter. ProShare Advisors LLC now owns 31,917 shares of the technology infrastructure company’s stock worth $3,471,000 after purchasing an additional 3,384 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Akamai Technologies by 15.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock worth $23,038,000 after purchasing an additional 28,304 shares in the last quarter. 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.