Akamai Technologies, Inc. (NASDAQ:AKAM) Sees Large Growth in Short Interest – MarketBeat
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Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 11,350,000 shares, an increase of 7.3% from the October 31st total of 10,580,000 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is currently 7.3 days.
Insider Transactions at Akamai Technologies
In other news, CTO Robert Blumofe sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $92.92, for a total transaction of $464,600.00. Following the completion of the transaction, the chief technology officer now directly owns 9,835 shares in the company, valued at $913,868.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Akamai Technologies news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the completion of the sale, the chief technology officer now directly owns 9,835 shares in the company, valued at $913,868.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $95.00, for a total value of $142,500.00. Following the completion of the sale, the executive vice president now owns 28,306 shares of the company’s stock, valued at $2,689,070. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,000 shares of company stock worth $728,285. Company insiders own 1.70% of the company’s stock.
Institutional Investors Weigh In On Akamai Technologies
A number of hedge funds have recently bought and sold shares of AKAM. Zions Bancorporation N.A. boosted its holdings in Akamai Technologies by 73.7% during the third quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 132 shares during the period. Ancora Advisors LLC raised its position in shares of Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. CX Institutional acquired a new position in shares of Akamai Technologies during the second quarter valued at about $28,000. Karlinski Andrew C acquired a new position in shares of Akamai Technologies during the first quarter valued at about $30,000. Finally, Larson Financial Group LLC acquired a new position in shares of Akamai Technologies during the second quarter valued at about $41,000. 92.23% of the stock is currently owned by institutional investors.
Akamai Technologies Stock Performance
AKAM stock traded down $1.41 during mid-day trading on Friday, reaching $93.79. 856,088 shares of the stock traded hands, compared to its average volume of 1,615,351. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.54. Akamai Technologies has a 52 week low of $76.28 and a 52 week high of $123.25. The business has a 50-day moving average of $86.74 and a two-hundred day moving average of $91.08. The firm has a market capitalization of $14.75 billion, a PE ratio of 30.06, a P/E/G ratio of 1.90 and a beta of 0.71.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). Akamai Technologies had a net margin of 14.12% and a return on equity of 16.00%. The firm had revenue of $881.90 million for the quarter, compared to the consensus estimate of $875.99 million. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Akamai Technologies will post 4.18 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
AKAM has been the subject of a number of research analyst reports. Cowen cut their target price on Akamai Technologies from $164.00 to $137.00 in a research report on Wednesday, November 9th. Cowen dropped their price target on Akamai Technologies from $164.00 to $137.00 in a report on Wednesday, November 9th. Truist Financial dropped their price target on Akamai Technologies from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. TheStreet cut Akamai Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, September 20th. Finally, StockNews.com cut Akamai Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $112.93.
Akamai Technologies Company Profile
(Get Rating)
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.
Further Reading
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