Akamai Technologies, Inc. (NASDAQ:AKAM) Short Interest Update

Akamai Technologies, Inc. (NASDAQ:AKAM) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 7,370,000 shares, a drop of 7.9% from the March 31st total of 8,000,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 5.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research firms recently commented on AKAM. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 14th. Piper Sandler upped their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. KeyCorp increased their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Finally, StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.60.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $101.78 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.87 and a beta of 0.72. Akamai Technologies has a 1 year low of $76.85 and a 1 year high of $129.17. The firm has a 50 day moving average price of $106.82 and a 200 day moving average price of $112.28.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same period in the prior year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts predict that Akamai Technologies will post 4.84 earnings per share for the current year.

Insider Activity

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock worth $3,688,883 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Akamai Technologies

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Akamai Technologies by 1.6% during the first quarter. Principal Financial Group Inc. now owns 202,921 shares of the technology infrastructure company’s stock valued at $22,070,000 after buying an additional 3,132 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Akamai Technologies by 8.2% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 84,796 shares of the technology infrastructure company’s stock valued at $9,222,000 after acquiring an additional 6,400 shares during the period. Kercheville Advisors LLC lifted its stake in shares of Akamai Technologies by 49.9% during the first quarter. Kercheville Advisors LLC now owns 16,980 shares of the technology infrastructure company’s stock worth $1,847,000 after purchasing an additional 5,650 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Akamai Technologies by 16.5% in the first quarter. V Square Quantitative Management LLC now owns 4,321 shares of the technology infrastructure company’s stock worth $470,000 after buying an additional 612 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Akamai Technologies by 150.0% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 25,000 shares of the technology infrastructure company’s stock worth $2,719,000 after acquiring an additional 15,000 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services 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.