Akamai Technologies, Inc. (NASDAQ:AKAM – Get Free Report) saw an uptick in trading volume on Wednesday after TD Cowen raised their price target on the stock from $107.00 to $112.00. TD Cowen currently has an outperform rating on the stock. 1,558,798 shares were traded during trading, an increase of 1% from the previous session’s volume of 1,544,847 shares.The stock last traded at $102.18 and had previously closed at $103.11.
Other equities analysts also recently issued reports about the company. TheStreet raised Akamai Technologies from a “c” rating to a “b-” rating in a research report on Thursday, August 10th. Morgan Stanley upped their target price on Akamai Technologies from $94.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Raymond James upped their target price on Akamai Technologies from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. William Blair initiated coverage on Akamai Technologies in a research report on Wednesday, April 19th. They issued an “outperform” rating on the stock. Finally, Evercore ISI upped their target price on Akamai Technologies from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.93.
View Our Latest Stock Analysis on AKAM
Insider Transactions at Akamai Technologies
In other news, COO Adam Karon sold 10,427 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $101.08, for a total transaction of $1,053,961.16. Following the sale, the chief operating officer now directly owns 21,963 shares of the company’s stock, valued at approximately $2,220,020.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Adam Karon sold 10,427 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $101.08, for a total transaction of $1,053,961.16. Following the sale, the chief operating officer now directly owns 21,963 shares of the company’s stock, valued at approximately $2,220,020.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Aaron Ahola sold 1,200 shares of the 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 sale, the executive vice president now directly owns 15,084 shares in the company, valued at $1,524,690.72. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,760 shares of company stock valued at $250,357 and have sold 41,718 shares valued at $3,994,557. Corporate insiders own 1.80% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ancora Advisors LLC lifted its stake in Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Akamai Technologies in the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its stake in Akamai Technologies by 71.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 373 shares of the technology infrastructure company’s stock valued at $31,000 after buying an additional 156 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new position in Akamai Technologies in the 2nd quarter valued at about $34,000. Finally, Prestige Wealth Management Group LLC lifted its stake in Akamai Technologies by 47.0% in the 4th 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 Price Performance
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’s 50 day simple moving average is $93.33 and its two-hundred day simple moving average is $85.55. The firm has a market capitalization of $15.20 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.78.
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.
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