Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $117.47

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $117.61.

A number of brokerages recently weighed in on AKAM. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $125.00 in a report on Friday, August 9th. Robert W. Baird cut their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Monday, November 11th. Finally, TD Cowen lifted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Akamai Technologies Stock Performance

AKAM opened at $97.53 on Friday. Akamai Technologies has a 1-year low of $84.70 and a 1-year high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day moving average price of $98.56 and a two-hundred day moving average price of $96.26. The company has a market capitalization of $14.65 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 3.73 and a beta of 0.65.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares in the company, 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 can be accessed through this link. Also, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the sale, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. This represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,500 shares of company stock worth $1,058,625. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 114 shares in the last quarter. Versant Capital Management Inc increased its holdings 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 purchasing an additional 193 shares in the last quarter. Innealta Capital LLC bought a new position in Akamai Technologies in the 2nd quarter worth approximately $28,000. Family Firm Inc. acquired a new position in Akamai Technologies during the 2nd quarter worth $35,000. Finally, Eastern Bank bought a new position in Akamai Technologies in the 3rd quarter valued at $71,000. 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.