Akamai Technologies (NASDAQ:AKAM) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Akamai Technologies (NASDAQ:AKAM – Get Rating) in a report released on Thursday morning. The brokerage issued a buy rating on the technology infrastructure company’s stock.

Several other brokerages have also issued reports on AKAM. Loop Capital lowered their target price on Akamai Technologies from $91.00 to $79.00 and set a hold rating on the stock in a research note on Wednesday, March 1st. Guggenheim assumed coverage on Akamai Technologies in a research note on Monday, January 23rd. They set a sell rating and a $75.00 price objective on the stock. Cowen reduced their target price on Akamai Technologies from $137.00 to $105.00 and set an outperform rating for the company in a research report on Wednesday, February 15th. Tigress Financial reduced their target price on Akamai Technologies from $168.00 to $132.00 in a research report on Wednesday, December 7th. Finally, Royal Bank of Canada cut Akamai Technologies from an outperform rating to a sector perform rating and reduced their target price for the stock from $100.00 to $85.00 in a research report on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of Hold and an average target price of $100.63.

Akamai Technologies Stock Up 1.5 %

Shares of NASDAQ:AKAM opened at $73.61 on Thursday. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.69 and a beta of 0.78. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.52. Akamai Technologies has a 12-month low of $70.65 and a 12-month high of $123.25. The business’s 50 day moving average is $81.68 and its 200 day moving average is $85.04.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last announced its earnings results on Tuesday, February 14th. The technology infrastructure company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $927.78 million for the quarter, compared to analysts’ expectations of $904.80 million. Akamai Technologies had a return on equity of 15.12% and a net margin of 13.15%. Akamai Technologies’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, sell-side analysts forecast that Akamai Technologies will post 4.26 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, EVP Anthony P. Williams sold 6,300 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $71.23, for a total value of $448,749.00. Following the completion of the transaction, the executive vice president now owns 13,992 shares of the company’s stock, valued at approximately $996,650.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Anthony P. Williams sold 6,300 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $71.23, for a total value of $448,749.00. Following the completion of the transaction, the executive vice president now owns 13,992 shares of the company’s stock, valued at approximately $996,650.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 3,471 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $74.76, for a total value of $259,491.96. Following the completion of the sale, the executive vice president now owns 17,798 shares in the company, valued at approximately $1,330,578.48. The disclosure for this sale can be found here. In the last quarter, insiders bought 7,333 shares of company stock valued at $600,961 and sold 35,740 shares valued at $2,825,750. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Akamai Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC grew its stake in shares of Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in Akamai Technologies by 73.7% during the 3rd quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Akamai Technologies in the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Akamai Technologies by 625.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, General Partner Inc. purchased a new position in shares of Akamai Technologies in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 90.41% of the company’s stock.

About Akamai Technologies

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Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.