Robert W. Baird Has Lowered Expectations for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price objective dropped by equities research analysts at Robert W. Baird from $120.00 to $115.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology infrastructure company’s stock. Robert W. Baird’s price target suggests a potential upside of 27.66% from the stock’s current price.

Several other equities analysts also recently weighed in on AKAM. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Monday, July 29th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Tigress Financial restated a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Stock Down 1.1 %

Akamai Technologies stock opened at $90.08 on Monday. The business’s 50-day simple moving average is $100.46 and its two-hundred day simple moving average is $97.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $13.65 billion, a PE ratio of 26.65, a PEG ratio of 2.87 and a beta of 0.68. Akamai Technologies has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on 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 sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the 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 transaction, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock worth $741,655. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Several large investors have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC grew its stake in shares of Akamai Technologies by 58.7% in the third quarter. Summit Trail Advisors LLC now owns 4,022 shares of the technology infrastructure company’s stock worth $406,000 after acquiring an additional 1,488 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in Akamai Technologies by 148.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 19,900 shares of the technology infrastructure company’s stock valued at $2,009,000 after purchasing an additional 11,890 shares during the period. Swedbank AB grew its stake in Akamai Technologies by 5.3% during the 3rd quarter. Swedbank AB now owns 92,497 shares of the technology infrastructure company’s stock worth $9,338,000 after purchasing an additional 4,689 shares in the last quarter. Pitcairn Co. increased its holdings in Akamai Technologies by 18.4% during the 3rd quarter. Pitcairn Co. now owns 5,982 shares of the technology infrastructure company’s stock worth $604,000 after purchasing an additional 928 shares during the period. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Akamai Technologies during the third quarter worth approximately $502,000. 94.28% of the stock is 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.