BidaskClub upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.
A number of other research analysts have also weighed in on the stock. Craig Hallum raised shares of Akamai Technologies from a hold rating to a buy rating in a research report on Tuesday. Oppenheimer boosted their price objective on shares of Akamai Technologies from $60.00 to $80.00 and gave the stock an outperform rating in a report on Monday, December 18th. B. Riley boosted their price objective on shares of Akamai Technologies from $70.00 to $85.00 and gave the stock a buy rating in a report on Monday, December 18th. Credit Suisse Group upgraded shares of Akamai Technologies from a neutral rating to an outperform rating and set a $75.00 price objective on the stock in a report on Monday, December 18th. Finally, SunTrust Banks restated a hold rating and set a $60.00 price objective on shares of Akamai Technologies in a report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $62.87.
Akamai Technologies (NASDAQ AKAM) opened at $65.45 on Wednesday. The firm has a market cap of $11,136.95, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies has a 52-week low of $44.65 and a 52-week high of $71.64.
In related news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the sale, the insider now owns 32,319 shares of the company’s stock, valued at $2,142,426.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Aaron Ahola sold 2,893 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $52.44, for a total transaction of $151,708.92. Following the completion of the sale, the senior vice president now directly owns 8,046 shares in the company, valued at approximately $421,932.24. The disclosure for this sale can be found here. In the last three months, insiders purchased 55,752 shares of company stock worth $2,999,371 and sold 89,550 shares worth $5,026,271. Insiders own 3.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AKAM. Advisory Services Network LLC grew its stake in Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 168 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in Akamai Technologies during the second quarter worth about $117,000. BB&T Investment Services Inc. bought a new stake in Akamai Technologies during the second quarter worth about $119,000. FTB Advisors Inc. grew its stake in Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after buying an additional 59 shares during the last quarter. Finally, Tobam bought a new stake in Akamai Technologies during the second quarter worth about $153,000. 86.33% of the stock is currently owned by institutional investors and hedge funds.
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About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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