Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus … – MarketBeat
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Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $109.86.
Several analysts have issued reports on AKAM shares. DA Davidson cut their target price on Akamai Technologies to $100.00 in a research note on Tuesday, November 15th. TheStreet lowered Akamai Technologies from a “b-” rating to a “c+” rating in a research note on Tuesday, September 20th. StockNews.com lowered Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Tigress Financial dropped their price objective on Akamai Technologies from $168.00 to $132.00 in a research note on Wednesday, December 7th. Finally, Robert W. Baird dropped their price objective on Akamai Technologies to $90.00 in a research note on Tuesday, November 15th.
Insider Activity at Akamai Technologies
In related news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 9,835 shares of the company’s stock, valued at $913,868.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Akamai Technologies news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $92.92, for a total value of $464,600.00. Following the transaction, the chief technology officer now directly owns 9,835 shares of the company’s stock, valued at $913,868.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $80.79, for a total value of $121,185.00. Following the completion of the transaction, the executive vice president now directly owns 31,183 shares in the company, valued at $2,519,274.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,748 shares of company stock valued at $150,214 and have sold 10,240 shares valued at $929,818. 1.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Toroso Investments LLC lifted its position in shares of Akamai Technologies by 4.1% during the 3rd quarter. Toroso Investments LLC now owns 6,775 shares of the technology infrastructure company’s stock valued at $545,000 after buying an additional 267 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Akamai Technologies during the 3rd quarter valued at about $27,742,000. National Pension Service lifted its position in shares of Akamai Technologies by 2.6% during the 3rd quarter. National Pension Service now owns 266,848 shares of the technology infrastructure company’s stock valued at $21,481,000 after buying an additional 6,667 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Akamai Technologies by 4.0% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,697 shares of the technology infrastructure company’s stock valued at $458,000 after buying an additional 220 shares in the last quarter. Finally, Kentucky Retirement Systems lifted its position in shares of Akamai Technologies by 4.6% during the 3rd quarter. Kentucky Retirement Systems now owns 12,443 shares of the technology infrastructure company’s stock valued at $999,000 after buying an additional 545 shares in the last quarter. 90.41% of the stock is owned by hedge funds and other institutional investors.
Akamai Technologies Stock Down 0.5 %
AKAM stock opened at $84.30 on Friday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $88.41 and its 200 day moving average is $89.24. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.69 and a beta of 0.71. Akamai Technologies has a 1-year low of $76.28 and a 1-year high of $123.25.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The technology infrastructure company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.07). The company had revenue of $881.90 million during the quarter, compared to the consensus estimate of $875.99 million. Akamai Technologies had a return on equity of 16.00% and a net margin of 14.12%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $1.20 earnings per share. Sell-side analysts predict that Akamai Technologies will post 4.18 EPS for the current fiscal year.
About Akamai Technologies
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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.
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