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

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 9,750,000 shares, a growth of 31.8% from the May 15th total of 7,400,000 shares. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is presently 4.0 days. Currently, 6.8% of the company's stock are sold short.

Akamai Technologies Price Performance

Shares of AKAM stock traded down $0.91 during mid-day trading on Tuesday, hitting $79.08. 744,550 shares of the stock were exchanged, compared to its average volume of 2,029,516. The company has a market cap of $11.56 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. Akamai Technologies has a 52-week low of $67.51 and a 52-week high of $106.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $77.50 and a 200 day moving average of $86.03.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.64 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president now directly owns 43,575 shares of the company's stock, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total value of $333,873.54. Following the completion of the transaction, the chief operating officer now directly owns 10,809 shares in the company, valued at $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Akamai Technologies

Institutional investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC boosted its position in shares of Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after purchasing an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company's stock valued at $1,912,000 after purchasing an additional 114 shares during the period. Beverly Hills Private Wealth LLC boosted its position in Akamai Technologies by 4.7% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company's stock worth $228,000 after acquiring an additional 126 shares during the last quarter. Opes Wealth Management LLC increased its position in shares of Akamai Technologies by 2.7% in the first quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock valued at $392,000 after acquiring an additional 128 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Akamai Technologies by 0.5% during the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after purchasing an additional 139 shares during the period. Hedge funds and other institutional investors own 94.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Piper Sandler reiterated a "neutral" rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. Wall Street Zen raised Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. dropped their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Craig Hallum lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price objective for the company. in a research note on Friday, February 21st. Finally, Oppenheimer started coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $101.25.

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.

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