Akamai Technologies (NASDAQ:AKAM) Coverage Initiated by Analysts at Guggenheim

Guggenheim began coverage on shares of Akamai Technologies (NASDAQ:AKAMGet Rating) in a research note released on Monday morning, The Fly reports. The brokerage issued a sell rating on the technology infrastructure company’s stock.

A number of other equities research analysts have also recently issued reports on AKAM. Piper Sandler reduced their price objective on Akamai Technologies to $93.00 in a report on Tuesday, November 15th. Robert W. Baird reduced their price objective on Akamai Technologies to $90.00 in a report on Tuesday, November 15th. DA Davidson cut their price target on Akamai Technologies to $100.00 in a research note on Tuesday, November 15th. Cowen cut their price target on Akamai Technologies from $164.00 to $137.00 in a research note on Wednesday, November 9th. Finally, Raymond James cut their price target on Akamai Technologies from $115.00 to $94.00 and set an outperform rating for the company in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of Hold and a consensus target price of $109.86.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $89.19 on Monday. The business’s 50 day moving average price is $88.26 and its two-hundred day moving average price is $88.73. The company has a market cap of $14.02 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. 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 twelve month low of $76.28 and a twelve month high of $123.25.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings data 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 return on equity of 16.00% and a net margin of 14.12%. The firm had revenue of $881.90 million for the quarter, compared to the consensus estimate of $875.99 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post 4.18 EPS for the current year.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Aaron Ahola sold 2,240 shares of the stock in a transaction on Monday, December 12th. The stock was sold at an average price of $89.97, for a total value of $201,532.80. Following the completion of the sale, the executive vice president now directly owns 9,676 shares in the company, valued at $870,549.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, November 11th. The shares were 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 owns 9,835 shares of the company’s stock, valued at $913,868.20. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,471 shares of company stock worth $300,553 and sold 10,363 shares worth $946,762. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Akamai Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC increased its holdings in Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. CX Institutional acquired a new stake in Akamai Technologies in the second quarter valued at $28,000. Zions Bancorporation N.A. increased its holdings in Akamai Technologies by 73.7% in the third quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 132 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in Akamai Technologies by 625.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, General Partner Inc. bought a new stake in Akamai Technologies during the fourth quarter valued at $31,000. 90.41% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Company Profile

(Get Rating)

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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