Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) has received an average of a Hold rating from the eighteen rating agencies that currently rate the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two with a hold rating and four with a buy rating. The average 12-month target price set by analysts covering the stock over the last year is $107.53.
Several equity analysts recently rated the company. DA Davidson lowered its price target on Akamai Technologies to $100.00 in a report on Tuesday, November 15. Tigress Financial lowered its price target on Akamai Technologies from $168.00 to $132.00 in a report on Wednesday, December 7th. Cowen lowered his target price on Akamai Technologies from $164.00 to $137.00 in a report on Wednesday, November 9. KeyCorp lowered its price target on Akamai Technologies to $110.00 from $116.00 and listed the company as “overweight” in a report Wednesday, November 9. Finally, Raymond James lowered his price target on Akamai Technologies to $94.00 from $115.00 and gave the company a Outperform rating in a research report on Wednesday, November 9th.
Also on Friday, November 11, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction. The stock sold at an average price of $92.92 for a total value of $464,600.00. Following the closing of the transaction, the Chief Technology Officer now owns 9,835 shares of the company, valued at $913,868.20. The sale was disclosed in a document filed with the SEC, available at this link. In related news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction that took place on Friday, November 11th. The shares were sold at an average price of $92.92 for a total transaction of $464,600.00. Following the transaction, the Chief Technology Officer now owns 9,835 shares of the company, valued at $913,868.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In addition, EVP Aaron Ahola sold 2,240 shares of the company’s stock in a transaction that took place on Monday, December 12th. The shares sold at an average price of $89.97 for a total transaction of $201,532.80. Following the transaction, the Executive Vice President now directly owns 9,676 shares of the Company, valued at approximately $870,549.72. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,756 shares of the company’s shares for $325,630 and sold 10,363 shares for $946,762. Company insiders own 1.70% of the company’s stock.
Hedge funds rely on Akamai Technologies
A number of major investors have recently bought and sold shares in AKAM. Fairfield Bush & Co. acquired a new position in Akamai Technologies for approximately $107,000 during the first quarter. Private Advisor Group LLC increased its position in Akamai Technologies shares by 16.0% during the first quarter. Private Advisor Group LLC now owns 4,491 shares of the technology infrastructure company, valued at $536,000, after purchasing an additional 620 shares last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Akamai Technologies by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,740 shares of the technology infrastructure company valued at $2,596,000 after purchasing an additional 1,346 shares last quarter. Cibc World Market Inc. increased its position in shares of Akamai Technologies by 2.3% in the first quarter. Cibc World Market Inc. now owns 10,741 shares of the technology infrastructure company, valued at $1,282,000, after purchasing an additional 237 shares last quarter. Finally, Cetera Investment Advisers increased its position in shares of Akamai Technologies by 48.7% during the first quarter. Cetera Investment Advisers now owns 2,789 shares of the $333,000 technology infrastructure company after purchasing an additional 914 shares last quarter. Hedge funds and other institutional investors own 90.41% of the company’s shares.
Price performance from Akamai Technologies
AKAM stock opened at $86.62 on Thursday. The company has a market cap of $13.62 billion, a P/E ratio of 27.76, a PEG ratio of 1.67, and a beta of 0.74. Akamai Technologies has a 12-month low of $76.28 and a 12-month high of $123.25. The company has a 50-day simple moving average of $88.09 and a 200-day simple moving average of $88.68. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.54.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The technology infrastructure company reported earnings per share of $0.89 for the quarter, missing the consensus estimate of $0.96 ($0.07). The company had revenue of $881.90 million for the quarter, compared to analyst estimates of $875.99 million. Akamai Technologies had a net margin of 14.12% and a return on equity of 16.00%. Akamai Technologies revenue increased 2.5% compared to the year-ago quarter. For the same period last year, the company posted earnings per share of $1.20. As a group, equity analysts expect Akamai Technologies to post 4.18 year-to-date EPS.
Akamai Technologies Company Profile
Akamai Technologies, Inc is engaged in providing cloud services to deliver, optimize and secure content and business applications over the Internet. Products include security, web performance, media delivery, and carriers. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.
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