HSBC Upgrades Akamai Technologies (NASDAQ:AKAM) to “Buy”

HSBC upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a buy rating in a research report released on Monday, MarketBeat.com reports. They currently have $121.00 price target on the technology infrastructure company’s stock.

Other equities research analysts have also recently issued research reports about the company. TD Cowen upped their price target on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. DA Davidson reaffirmed a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a report on Friday, August 9th. Guggenheim raised 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. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.47.

Akamai Technologies Stock Performance

Shares of AKAM opened at $88.75 on Monday. The company’s 50 day simple moving average is $100.23 and its 200-day simple moving average is $96.94. Akamai Technologies has a 12-month low of $87.59 and a 12-month high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The firm has a market cap of $13.33 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,500 shares of company stock valued at $741,655. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors have recently made changes to their positions in AKAM. Vanguard Group Inc. raised its position in shares of Akamai Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after buying an additional 124,359 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Akamai Technologies by 1.3% in the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after purchasing an additional 28,135 shares during the period. Dimensional Fund Advisors LP lifted its position in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after buying an additional 347,626 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Akamai Technologies by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock worth $127,105,000 after purchasing an additional 14,347 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in Akamai Technologies by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after acquiring an additional 222,290 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

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.