Akamai Technologies (NASDAQ:AKAM) had its price target boosted by stock analysts at Robert W. Baird from $62.00 to $72.00 in a research note issued on Wednesday. The brokerage presently has a “neutral” rating on the technology infrastructure company’s stock. Robert W. Baird’s price target would suggest a potential upside of 10.01% from the company’s previous close.
A number of other brokerages have also recently commented on AKAM. Royal Bank of Canada boosted their price target on Akamai Technologies to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 price target (up from $58.00) on shares of Akamai Technologies in a research report on Wednesday, January 10th. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 30th. Guggenheim upped their price objective on Akamai Technologies from $58.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Nomura upped their price objective on Akamai Technologies from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $67.11.
Akamai Technologies (NASDAQ:AKAM) traded up $1.78 during trading on Wednesday, reaching $65.45. The company’s stock had a trading volume of 3,232,411 shares, compared to its average volume of 1,849,764. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market cap of $11,280.00, a PE ratio of 39.19, a price-to-earnings-growth ratio of 2.54 and a beta of 0.70. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $69.56.
In related news, CEO F Thomson Leighton bought 18,545 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of $53.91 per share, for a total transaction of $999,760.95. Following the purchase, the chief executive officer now owns 226,950 shares in the company, valued at $12,234,874.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Rick M. Mcconnell sold 48,369 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $56.83, for a total value of $2,748,810.27. Following the completion of the sale, the insider now owns 45,974 shares of the company’s stock, valued at $2,612,702.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,112 shares of company stock valued at $3,562,575. Company insiders own 3.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Akamai Technologies by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock worth $5,329,000 after buying an additional 788 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Akamai Technologies by 2.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock worth $2,135,000 after buying an additional 937 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Akamai Technologies by 19.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,696 shares of the technology infrastructure company’s stock worth $334,000 after buying an additional 1,078 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Akamai Technologies by 8.5% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,941 shares of the technology infrastructure company’s stock worth $679,000 after buying an additional 1,098 shares during the period. Hedge funds and other institutional investors own 86.52% of the company’s stock.
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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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