Akamai Technologies (NASDAQ:AKAM) Coverage Initiated by Analysts at Guggenheim

Guggenheim assumed coverage on shares of Akamai Technologies (NASDAQ:AKAMGet Rating) in a research report report published on Monday, The Fly reports. The brokerage issued a sell rating on the technology infrastructure company’s stock.

AKAM has been the subject of a number of other reports. Robert W. Baird dropped their target price on Akamai Technologies to $90.00 in a report on Tuesday, November 15th. Cowen dropped their price target on Akamai Technologies from $164.00 to $137.00 in a report on Wednesday, November 9th. KeyCorp dropped their price target on Akamai Technologies from $116.00 to $110.00 and set an overweight rating for the company in a report on Wednesday, November 9th. Morgan Stanley dropped their price target on Akamai Technologies from $98.00 to $92.00 and set an equal weight rating for the company in a report on Wednesday, November 9th. Finally, DA Davidson dropped their price target on Akamai Technologies to $100.00 in a report on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Akamai Technologies has an average rating of Hold and a consensus price target of $109.86.

Akamai Technologies Trading Up 1.2 %

Shares of AKAM opened at $89.19 on Monday. Akamai Technologies has a 1 year low of $76.28 and a 1 year high of $123.25. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $88.26 and a 200-day simple moving average of $88.73. The stock has a market cap of $14.02 billion, a PE ratio of 28.59, a PEG ratio of 1.65 and a beta of 0.74.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its earnings results on Tuesday, November 8th. The technology infrastructure company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The company had revenue of $881.90 million during the quarter, compared to analyst estimates of $875.99 million. During the same period in the previous year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that Akamai Technologies will post 4.18 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, CEO F Thomson Leighton purchased 285 shares of Akamai Technologies stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost of $87.88 per share, for a total transaction of $25,045.80. Following the transaction, the chief executive officer now directly owns 7,543 shares of the company’s stock, valued at $662,878.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Aaron Ahola sold 2,240 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $89.97, for a total value of $201,532.80. Following the transaction, the executive vice president now directly owns 9,676 shares in the company, valued at approximately $870,549.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Thomson Leighton bought 285 shares of Akamai Technologies stock in a transaction on Thursday, January 19th. The shares were acquired at an average price of $87.88 per share, for a total transaction of $25,045.80. Following the completion of the acquisition, the chief executive officer now owns 7,543 shares of the company’s stock, valued at approximately $662,878.84. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,471 shares of company stock worth $300,553 and have sold 10,363 shares worth $946,762. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. lifted its holdings in Akamai Technologies by 73.7% during the third quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 132 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 127 shares in the last quarter. CX Institutional bought a new position in Akamai Technologies during the second quarter worth about $28,000. Newbridge Financial Services Group Inc. lifted its holdings in Akamai Technologies by 625.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Finally, General Partner Inc. bought a new position in Akamai Technologies during the fourth quarter worth about $31,000. 90.41% of the stock is currently owned by institutional investors.

Akamai Technologies Company Profile

(Get Rating)

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.

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