Akamai Technologies (NASDAQ:AKAM) Cut to “Hold” at TD Cowen

TD Cowen cut shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a report issued on Friday, Marketbeat reports. TD Cowen currently has $98.00 price objective on the technology infrastructure company’s stock, down from their previous price objective of $125.00.

Other equities analysts have also recently issued research reports about the company. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Citigroup reduced their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, Robert W. Baird reduced their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Trading Down 21.7 %

Akamai Technologies stock opened at $76.73 on Friday. Akamai Technologies has a 52 week low of $76.50 and a 52 week high of $113.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $11.53 billion, a P/E ratio of 23.54, a PEG ratio of 3.50 and a beta of 0.65. The stock has a 50-day simple moving average of $96.15 and a 200 day simple moving average of $97.94.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Analysts expect that Akamai Technologies will post 4.6 earnings per share for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,782 shares of company stock worth $1,523,951 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Banque Cantonale Vaudoise lifted its stake in shares of Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after acquiring an additional 20,633 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Akamai Technologies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after acquiring an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies in the 4th quarter valued at $827,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Company Profile

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.