Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $116.85

Akamai Technologies, Inc. (NASDAQ:AKAM) has earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $116.85.

Several research analysts have recently commented on AKAM shares. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Monday, December 2nd. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Robert W. Baird lowered their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank cut their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,282 shares of company stock valued at $1,733,716. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akamai Technologies

Several large investors have recently modified their holdings of AKAM. Geode Capital Management LLC increased its stake in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the period. Earnest Partners LLC increased its position in Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after purchasing an additional 28,135 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Akamai Technologies by 25.1% during 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 lifted its holdings in shares of Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock valued at $151,401,000 after buying an additional 88,732 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after buying an additional 11,272 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $96.97 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $14.57 billion, a P/E ratio of 28.69, a P/E/G ratio of 3.83 and a beta of 0.65. The firm’s 50 day moving average price is $96.78 and its 200-day moving average price is $96.94. Akamai Technologies has a one year low of $84.70 and a one year high of $129.17.

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.