Akamai Technologies (NASDAQ:AKAM) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b-” rating in a note issued to investors on Tuesday, November 14th.
A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company set a $57.00 price objective on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Robert W. Baird reiterated a “hold” rating and issued a $52.00 target price on shares of Akamai Technologies in a research report on Friday, September 1st. Credit Suisse Group initiated coverage on shares of Akamai Technologies in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $50.00 target price for the company. DA Davidson set a $57.00 target price on shares of Akamai Technologies and gave the company a “hold” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Akamai Technologies from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.64.
Akamai Technologies (NASDAQ AKAM) traded up $0.01 on Tuesday, hitting $55.79. 2,188,307 shares of the company traded hands, compared to its average volume of 1,982,888. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. Akamai Technologies has a 1 year low of $44.65 and a 1 year high of $71.64. The firm has a market cap of $9,436.99, a PE ratio of 29.06, a P/E/G ratio of 2.21 and a beta of 0.67.
In related news, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of the firm’s stock in a transaction that occurred on 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 sold 31,181 shares of company stock valued at $1,614,560. Insiders own 3.20% of the company’s stock.
A number of large investors have recently modified their holdings of AKAM. Advisory Services Network LLC raised its holdings 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 purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Akamai Technologies during the second quarter worth approximately $117,000. BB&T Investment Services Inc. acquired a new stake in Akamai Technologies during the second quarter worth approximately $119,000. FTB Advisors Inc. raised its holdings 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 purchasing an additional 59 shares in the last quarter. Finally, Tobam acquired a new stake in Akamai Technologies during the second quarter worth approximately $153,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
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Akamai Technologies Company Profile
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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