Akamai Technologies (NASDAQ:AKAM) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Tuesday, The Fly reports.
Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Akamai Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Vetr lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective for the company. in a research report on Wednesday, September 13th. B. Riley restated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Thursday, October 12th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.00 to $54.00 in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $60.00 price objective on shares of Akamai Technologies in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $62.09.
Akamai Technologies (NASDAQ:AKAM) traded up $7.91 during mid-day trading on Tuesday, hitting $65.67. 15,351,200 shares of the stock were exchanged, compared to its average volume of 2,265,689. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64. The company has a market capitalization of $9,770.20, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.28 and a beta of 0.68.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 7,579 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total transaction of $386,529.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $66.29, for a total transaction of $662,900.00. Following the transaction, the insider now directly owns 32,319 shares in the company, valued at $2,142,426.51. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 55,752 shares of company stock worth $2,999,371 and have sold 89,550 shares worth $5,026,271. Company insiders own 3.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Akamai Technologies by 41.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,628,560 shares of the technology infrastructure company’s stock worth $1,085,681,000 after purchasing an additional 6,057,434 shares during the last quarter. Capital World Investors grew its holdings in shares of Akamai Technologies by 27.7% in the third quarter. Capital World Investors now owns 19,185,671 shares of the technology infrastructure company’s stock worth $1,016,649,000 after purchasing an additional 4,156,976 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Akamai Technologies by 71.7% in the fourth quarter. Brown Advisory Inc. now owns 6,021,718 shares of the technology infrastructure company’s stock worth $316,922,000 after purchasing an additional 2,514,290 shares during the last quarter. Norges Bank bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $129,736,000. Finally, First Trust Advisors LP grew its holdings in shares of Akamai Technologies by 41.8% in the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock worth $241,545,000 after purchasing an additional 1,428,886 shares during the last quarter. 86.33% of the stock is currently owned by hedge funds and other institutional investors.
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About Akamai Technologies
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.
