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

UBS Group assumed coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $110.00 price objective on the technology infrastructure company’s stock.

A number of other research firms have also weighed in on AKAM. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Monday, December 2nd. Finally, Robert W. Baird dropped their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $117.21.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $97.30 on Monday. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. 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 business has a 50-day moving average price of $98.12 and a 200-day moving average price of $96.62. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $129.17.

Insider Buying and Selling at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on 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 owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,282 shares of company stock valued at $1,733,716. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

A number of institutional investors have recently modified their holdings of AKAM. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $28,000. Family Firm Inc. acquired a new position in shares of Akamai Technologies during the 2nd quarter worth approximately $35,000. Eastern Bank acquired a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $71,000. Finally, Covestor Ltd boosted its holdings in shares of Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.