Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Akamai Technologies received a consensus rating of "Hold" from 21 brokerage firms, with three analysts recommending a sell and two recommending a strong buy.
• The average 1-year price target for Akamai’s stock is $99.58, reflecting varying investor sentiment and analysis from recent reports.
• Insider activity showed significant sales, with EVP Kim Salem-Jackson selling over 13,000 shares, leading to a 23% decrease in her ownership stake in the company.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have earned a consensus rating of "Hold" from the twenty-one ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $99.5789.

Several equities research analysts have commented on the stock. Morgan Stanley cut shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target on the stock. in a research report on Tuesday. KeyCorp assumed coverage on Akamai Technologies in a research report on Friday, June 6th. They set an "underweight" rating and a $63.00 price target for the company. Scotiabank decreased their price target on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. Wall Street Zen cut Akamai Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, UBS Group raised their target price on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 9th.

Insider Activity at Akamai Technologies

In other news, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president owned 43,575 shares in the company, valued at approximately $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the completion of the sale, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Akamai Technologies by 101.4% during the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company's stock worth $384,000 after acquiring an additional 2,022 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Akamai Technologies by 6.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 602,922 shares of the technology infrastructure company's stock worth $57,670,000 after purchasing an additional 37,673 shares in the last quarter. APG Asset Management N.V. increased its stake in Akamai Technologies by 46.2% in the 4th quarter. APG Asset Management N.V. now owns 238,658 shares of the technology infrastructure company's stock valued at $22,045,000 after buying an additional 75,438 shares during the last quarter. Paralel Advisors LLC increased its stake in Akamai Technologies by 10.0% in the 4th quarter. Paralel Advisors LLC now owns 23,078 shares of the technology infrastructure company's stock valued at $2,207,000 after buying an additional 2,096 shares during the last quarter. Finally, Oak Associates Ltd. OH lifted its position in shares of Akamai Technologies by 4.5% during the 4th quarter. Oak Associates Ltd. OH now owns 152,694 shares of the technology infrastructure company's stock worth $14,605,000 after buying an additional 6,645 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Price Performance

Shares of AKAM opened at $74.76 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $10.93 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.76. The stock's 50-day moving average price is $78.22 and its two-hundred day moving average price is $81.75. Akamai Technologies has a 1 year low of $67.51 and a 1 year high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $1.64 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Akamai Technologies will post 4.6 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.