Piper Sandler Increases Akamai Technologies (NASDAQ:AKAM) Price Target to $114.00

Akamai Technologies (NASDAQ:AKAM) had its price objective raised by research analysts at Piper Sandler from $113.00 to $114.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the technology infrastructure company’s stock. Piper Sandler’s target price would indicate a potential upside of 10.87% from the company’s previous close.

Several other research firms have also recently issued reports on AKAM. DA Davidson raised their target price on Akamai Technologies from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. StockNews.com initiated coverage on Akamai Technologies in a research note on Thursday, August 17th. They set a “buy” rating for the company. Evercore ISI raised their target price on Akamai Technologies from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. TD Cowen raised their target price on Akamai Technologies from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 16th. Finally, Raymond James raised their target price on Akamai Technologies from $94.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $102.82 on Friday. Akamai Technologies has a one year low of $70.65 and a one year high of $107.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $15.60 billion, a PE ratio of 34.74, a P/E/G ratio of 2.87 and a beta of 0.78. The stock has a 50 day moving average price of $94.48 and a 200 day moving average price of $86.06.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $101.08, for a total value of $303,240.00. Following the completion of the transaction, the chief technology officer now directly owns 19,609 shares in the company, valued at $1,982,077.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Akamai Technologies news, EVP Aaron Ahola sold 1,200 shares of Akamai Technologies stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $101.08, for a total transaction of $121,296.00. Following the completion of the sale, the executive vice president now directly owns 15,084 shares of the company’s stock, valued at approximately $1,524,690.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $101.08, for a total value of $303,240.00. Following the sale, the chief technology officer now directly owns 19,609 shares of the company’s stock, valued at $1,982,077.72. The disclosure for this sale can be found here. Over the last three months, insiders purchased 1,906 shares of company stock worth $175,253 and sold 35,847 shares worth $3,464,699. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Akamai Technologies

Institutional investors have recently bought and sold shares of the business. Janiczek Wealth Management LLC increased its position in shares of Akamai Technologies by 11.6% during the second quarter. Janiczek Wealth Management LLC now owns 1,107 shares of the technology infrastructure company’s stock worth $99,000 after purchasing an additional 115 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Akamai Technologies by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,401 shares of the technology infrastructure company’s stock worth $1,474,000 after purchasing an additional 123 shares in the last quarter. IFP Advisors Inc increased its position in shares of Akamai Technologies by 2.4% during the fourth quarter. IFP Advisors Inc now owns 5,421 shares of the technology infrastructure company’s stock worth $112,000 after purchasing an additional 126 shares in the last quarter. Two Sigma Securities LLC increased its position in shares of Akamai Technologies by 3.6% during the first quarter. Two Sigma Securities LLC now owns 3,605 shares of the technology infrastructure company’s stock worth $282,000 after purchasing an additional 126 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its position in shares of Akamai Technologies by 47.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 397 shares of the technology infrastructure company’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. 90.08% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.