Akamai Technologies (NASDAQ:AKAM) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on AKAM. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research report on Thursday, August 29th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Monday, July 29th. Scotiabank dropped their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $88.35 on Monday. The stock’s fifty day moving average is $100.02 and its two-hundred day moving average is $96.88. The company has a market capitalization of $13.27 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 52 week low of $87.59 and a 52 week high of $129.17.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The trade was a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vinva Investment Management Ltd purchased a new position in shares of Akamai Technologies in the third quarter worth about $327,000. Public Sector Pension Investment Board raised its stake in shares of Akamai Technologies by 8.4% in the third quarter. Public Sector Pension Investment Board now owns 6,475 shares of the technology infrastructure company’s stock worth $654,000 after purchasing an additional 500 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Akamai Technologies by 4.3% in the third quarter. Glenmede Trust Co. NA now owns 206,764 shares of the technology infrastructure company’s stock worth $20,873,000 after purchasing an additional 8,559 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Akamai Technologies by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after acquiring an additional 115 shares during the period. Finally, Truvestments Capital LLC grew its holdings in Akamai Technologies by 17.0% during the third quarter. Truvestments Capital LLC now owns 2,759 shares of the technology infrastructure company’s stock worth $279,000 after acquiring an additional 401 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

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.