Equities research analysts at Instinet initiated coverage on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a report released on Thursday. The brokerage set a “neutral” rating and a $47.62 price target on the technology infrastructure company’s stock.

AKAM has been the topic of several other research reports. Zacks Investment Research cut shares of Akamai Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 14th. Morgan Stanley cut shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $68.00 to $54.00 in a research report on Thursday, April 27th. Drexel Hamilton assumed coverage on shares of Akamai Technologies in a research report on Tuesday, March 21st. They issued a “buy” rating and a $90.00 target price on the stock. JMP Securities lifted their target price on shares of Akamai Technologies from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Finally, FBR & Co reissued a “hold” rating and issued a $59.00 price target on shares of Akamai Technologies in a report on Wednesday, February 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Akamai Technologies presently has a consensus rating of “Hold” and an average target price of $65.21.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

Shares of Akamai Technologies (NASDAQ:AKAM) opened at 47.62 on Thursday. Akamai Technologies has a one year low of $46.90 and a one year high of $71.64. The company has a market cap of $8.23 billion, a PE ratio of 26.02 and a beta of 0.95. The stock’s 50 day moving average price is $55.14 and its 200-day moving average price is $63.09.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $609.24 million for the quarter, compared to analysts’ expectations of $604.94 million. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. On average, analysts expect that Akamai Technologies will post $2.56 EPS for the current year.

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In other Akamai Technologies news, CFO James M. Benson sold 33,243 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $65.00, for a total value of $2,160,795.00. Following the completion of the transaction, the chief financial officer now directly owns 49,614 shares in the company, valued at $3,224,910. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Sagan sold 18,666 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $58.75, for a total transaction of $1,096,627.50. Following the completion of the transaction, the director now owns 60,488 shares of the company’s stock, valued at $3,553,670. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,999 shares of company stock valued at $7,813,255. Company insiders own 2.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Cleararc Capital Inc. raised its position in Akamai Technologies by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock worth $254,000 after buying an additional 37 shares during the last quarter. Advantus Capital Management Inc raised its position in Akamai Technologies by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock worth $1,035,000 after buying an additional 75 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Akamai Technologies by 2.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,622 shares of the technology infrastructure company’s stock worth $258,000 after buying an additional 99 shares during the last quarter. Utah Retirement Systems raised its position in Akamai Technologies by 0.3% in the first quarter. Utah Retirement Systems now owns 31,496 shares of the technology infrastructure company’s stock worth $1,880,000 after buying an additional 100 shares during the last quarter. Finally, Clarius Group LLC raised its position in Akamai Technologies by 2.2% in the first quarter. Clarius Group LLC now owns 5,235 shares of the technology infrastructure company’s stock worth $313,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

12 Month Chart for NASDAQ:AKAM

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