Akamai Technologies (NASDAQ:AKAM) Upgraded to “Outperform” at Oppenheimer

Oppenheimer upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a market perform rating to an outperform rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has $120.00 price target on the technology infrastructure company’s stock.

AKAM has been the topic of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Robert W. Baird lowered their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. TD Cowen raised their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.61.

Akamai Technologies Stock Up 4.2 %

NASDAQ AKAM opened at $97.93 on Monday. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $129.17. The stock has a market cap of $14.71 billion, a PE ratio of 27.82, a PEG ratio of 3.58 and a beta of 0.68. The firm has a 50-day simple moving average of $98.61 and a 200 day simple moving average of $96.26. 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 other news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,500 shares of company stock valued at $1,058,625. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC grew its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC bought a new position in shares of Akamai Technologies during the second quarter valued at $28,000. Family Firm Inc. acquired a new position in Akamai Technologies during the 2nd quarter worth about $35,000. Finally, Eastern Bank bought a new stake in Akamai Technologies in the third quarter valued at approximately $71,000. Institutional investors 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.