Akamai Technologies, Inc. (NASDAQ:AKAM) Short Interest Down 7.9% in April

Akamai Technologies, Inc. (NASDAQ:AKAM) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 7,370,000 shares, a decrease of 7.9% from the March 31st total of 8,000,000 shares. Approximately 5.0% of the company’s stock are sold short. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is presently 4.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $128.00 to $135.00 in a report on Thursday, March 7th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Piper Sandler raised their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, KeyCorp lifted their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.60.

Insider Buying and Selling at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the sale, the executive vice president now directly owns 4,299 shares in the company, valued at $483,852.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock valued at $3,688,883 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Akamai Technologies

A number of large investors have recently modified their holdings of AKAM. Raymond James Financial Services Advisors Inc. increased its stake in shares of Akamai Technologies by 0.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares during the period. Manchester Capital Management LLC grew its holdings in Akamai Technologies by 6.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after buying an additional 97 shares in the last quarter. ORG Partners LLC increased its position in Akamai Technologies by 16.7% in the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after acquiring an additional 100 shares during the period. Private Trust Co. NA raised its stake in Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after acquiring an additional 108 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Akamai Technologies by 0.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Down 0.1 %

NASDAQ:AKAM opened at $101.68 on Monday. The firm has a market capitalization of $15.41 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. Akamai Technologies has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average of $106.97 and a 200-day moving average of $112.32.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. The firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. Analysts predict that Akamai Technologies will post 4.84 EPS for the current year.

About Akamai Technologies

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.