Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $116.85

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned an average recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $116.85.

A number of equities analysts have recently weighed in on AKAM shares. UBS Group initiated coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. Finally, Robert W. Baird decreased their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th.

Akamai Technologies Stock Up 0.1 %

Akamai Technologies stock opened at $95.65 on Thursday. The company’s 50-day moving average price is $96.23 and its two-hundred day moving average price is $97.09. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $14.37 billion, a P/E ratio of 28.30, a P/E/G ratio of 3.83 and a beta of 0.65. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $129.17.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now directly owns 26,703 shares in the company, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $1,733,716 in the last three months. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise increased its holdings in Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. increased its stake in shares of Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after acquiring an additional 11,272 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after acquiring an additional 46,335 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its holdings in Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock valued at $2,009,000 after acquiring an additional 11,890 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.