Akamai Technologies (NASDAQ:AKAM) Upgraded at HSBC

Akamai Technologies (NASDAQ:AKAM) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $121.00 price target on the technology infrastructure company’s stock. HSBC’s price objective indicates a potential upside of 34.33% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Piper Sandler cut their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. TD Cowen increased their price objective on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.47.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $90.08 on Monday. The company has a market capitalization of $13.65 billion, a PE ratio of 26.65, a P/E/G ratio of 2.87 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $100.46 and a two-hundred day moving average price of $97.00. Akamai Technologies has a 12 month low of $87.59 and a 12 month high of $129.17.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’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 transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $741,655 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently added to or reduced their stakes in AKAM. Vanguard Group Inc. boosted its stake in shares of Akamai Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after buying an additional 124,359 shares during the last quarter. Earnest Partners LLC lifted its holdings in Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after acquiring an additional 28,135 shares during the period. Dimensional Fund Advisors LP boosted its position in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Akamai Technologies by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares during the period. Finally, Champlain Investment Partners LLC increased its position in shares of Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after purchasing an additional 222,290 shares during the last quarter. 94.28% of the stock is 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.