Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $116.85

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $116.85.

Several research analysts have issued reports on AKAM shares. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Monday, November 11th. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Finally, Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th.

Akamai Technologies Trading Down 1.0 %

NASDAQ AKAM opened at $96.97 on Thursday. Akamai Technologies has a 12 month low of $84.70 and a 12 month high of $129.17. The company’s 50-day moving average price is $96.78 and its 200-day moving average price is $96.94. The stock has a market cap of $14.57 billion, a PE ratio of 28.69, a PEG ratio of 3.83 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock valued at $1,733,716 in the last three months. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

A number of institutional investors have recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC grew its stake 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 valued at $25,000 after buying an additional 114 shares during the period. Innealta Capital LLC purchased a new position in Akamai Technologies in the second quarter worth approximately $28,000. Eastern Bank acquired a new stake in Akamai Technologies during the third quarter worth $71,000. Covestor Ltd raised its position in Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Akamai Technologies in the 3rd quarter valued at $102,000. Hedge funds and other 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.