Robert W. Baird Has Lowered Expectations for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price target reduced by Robert W. Baird from $120.00 to $115.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the technology infrastructure company’s stock.

A number of other equities research analysts have also recently weighed in on AKAM. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. TD Cowen boosted their target price on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Scotiabank lowered their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Trading Down 0.5 %

Shares of NASDAQ AKAM opened at $88.35 on Monday. Akamai Technologies has a twelve month low of $87.59 and a twelve month high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $100.02 and a 200-day simple moving average of $96.88. The stock has a market capitalization of $13.27 billion, a PE ratio of 26.14, a PEG ratio of 3.36 and a beta of 0.68.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 11.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. The trade was a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vinva Investment Management Ltd purchased a new stake in shares of Akamai Technologies in the 3rd quarter valued at about $327,000. Public Sector Pension Investment Board raised its stake in Akamai Technologies by 8.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,475 shares of the technology infrastructure company’s stock valued at $654,000 after acquiring an additional 500 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Akamai Technologies by 4.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 206,764 shares of the technology infrastructure company’s stock valued at $20,873,000 after acquiring an additional 8,559 shares during the last quarter. D.A. Davidson & CO. raised its stake in Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after acquiring an additional 115 shares during the last quarter. Finally, Truvestments Capital LLC raised its stake in Akamai Technologies by 17.0% during the 3rd quarter. Truvestments Capital LLC now owns 2,759 shares of the technology infrastructure company’s stock valued at $279,000 after acquiring an additional 401 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

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.