Akamai Technologies (NASDAQ:AKAM) had its price target boosted by DA Davidson from $115.00 to $130.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have a buy rating on the technology infrastructure company’s stock.
Other analysts have also issued research reports about the company. Raymond James raised Akamai Technologies from a market perform rating to an outperform rating and set a $110.00 target price on the stock in a research report on Friday, April 3rd. Needham & Company LLC raised their target price on Akamai Technologies from $112.00 to $135.00 and gave the company a buy rating in a report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Akamai Technologies from $107.00 to $115.00 and gave the company an equal weight rating in a research report on Wednesday. Goldman Sachs Group increased their price target on shares of Akamai Technologies from $102.00 to $107.00 and gave the stock a neutral rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, Tigress Financial reissued a buy rating on shares of Akamai Technologies in a research note on Tuesday, May 26th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Akamai Technologies presently has an average rating of Buy and a consensus price target of $117.00.
NASDAQ AKAM opened at $112.44 on Wednesday. The stock has a fifty day simple moving average of $108.31 and a 200-day simple moving average of $99.29. The company has a current ratio of 3.34, a quick ratio of 3.20 and a debt-to-equity ratio of 0.65. The stock has a market cap of $18.25 billion, a PE ratio of 28.83, a P/E/G ratio of 2.32 and a beta of 0.34. Akamai Technologies has a twelve month low of $75.18 and a twelve month high of $116.39.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the insider now owns 28,747 shares of the company’s stock, valued at $2,874,700. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rick M. Mcconnell sold 11,120 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the sale, the insider now owns 38,747 shares of the company’s stock, valued at approximately $3,719,712. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,992 shares of company stock worth $3,849,989. 2.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Asset Management Inc. raised its stake in Akamai Technologies by 64.7% during the 2nd quarter. National Asset Management Inc. now owns 10,542 shares of the technology infrastructure company’s stock worth $1,131,000 after acquiring an additional 4,140 shares in the last quarter. Comerica Bank grew its holdings in shares of Akamai Technologies by 30.4% during the second quarter. Comerica Bank now owns 61,391 shares of the technology infrastructure company’s stock worth $6,987,000 after purchasing an additional 14,301 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in shares of Akamai Technologies during the second quarter worth about $5,896,000. Ingalls & Snyder LLC increased its position in shares of Akamai Technologies by 0.3% during the second quarter. Ingalls & Snyder LLC now owns 45,538 shares of the technology infrastructure company’s stock worth $4,877,000 after purchasing an additional 155 shares in the last quarter. Finally, Vivid Financial Management Inc. lifted its holdings in shares of Akamai Technologies by 94.8% in the 2nd quarter. Vivid Financial Management Inc. now owns 5,423 shares of the technology infrastructure company’s stock valued at $581,000 after purchasing an additional 2,639 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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