Akamai Technologies (NASDAQ:AKAM) had its target price boosted by research analysts at MKM Partners to $84.00 in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the technology infrastructure company’s stock. MKM Partners’ price objective indicates a potential upside of 34.42% from the company’s current price.
A number of other research firms also recently weighed in on AKAM. TheStreet raised Akamai Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Morgan Stanley reissued a “sell” rating and set a $52.00 target price on shares of Akamai Technologies in a research report on Wednesday, December 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $75.00 target price (up from $58.00) on shares of Akamai Technologies in a research report on Wednesday, January 10th. Vetr downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 target price on the stock. in a research report on Monday, January 22nd. Finally, BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $68.57.
Akamai Technologies (NASDAQ AKAM) traded down $1.99 during trading on Thursday, hitting $62.49. The stock had a trading volume of 2,358,036 shares, compared to its average volume of 2,104,866. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $10,800.00, a price-to-earnings ratio of 49.92, a PEG ratio of 2.57 and a beta of 0.70. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $69.56.
In other news, insider Rick M. Mcconnell sold 2,743 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total value of $150,865.00. Following the transaction, the insider now directly owns 37,010 shares of the company’s stock, valued at approximately $2,035,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rick M. Mcconnell sold 48,369 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $56.83, for a total value of $2,748,810.27. Following the completion of the transaction, the insider now directly owns 45,974 shares in the company, valued at $2,612,702.42. The disclosure for this sale can be found here. Insiders have sold 61,112 shares of company stock worth $3,562,575 over the last ninety days. Company insiders own 3.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AKAM. Advisory Services Network LLC boosted its holdings in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares in the last quarter. CenterStar Asset Management LLC acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $114,000. Westwood Holdings Group Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. acquired a new position in shares of Akamai Technologies in the 2nd quarter worth approximately $119,000. Finally, Wealth Architects LLC acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $202,000. 86.52% of the stock is currently owned by institutional investors and hedge funds.
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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.
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