Akamai Technologies (NASDAQ:AKAM) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of Akamai Technologies (NASDAQ:AKAM - Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research firms also recently commented on AKAM. Royal Bank Of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Susquehanna cut their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a report on Friday, February 21st. Morgan Stanley reduced their price target on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Finally, Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and cut their target price for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $101.25.

Akamai Technologies Trading Down 0.4%

AKAM stock traded down $0.32 on Friday, hitting $78.38. 4,756,158 shares of the company were exchanged, compared to its average volume of 2,051,099. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77. Akamai Technologies has a twelve month low of $67.51 and a twelve month high of $106.80. The business's fifty day moving average is $77.80 and its two-hundred day moving average is $85.58.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. As a group, research analysts forecast that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of the stock in a transaction 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 owns 10,809 shares of the company's stock, valued at approximately $918,981.18. This represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction dated 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 sale, the executive vice president now owns 43,575 shares in the company, valued at approximately $3,326,079.75. This represents a 23.19% 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 Trading of Akamai Technologies

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Akamai Technologies by 2.3% during the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock worth $1,503,205,000 after purchasing an additional 425,461 shares in the last quarter. First Trust Advisors LP increased its position in shares of Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock valued at $489,383,000 after purchasing an additional 690,341 shares during the period. Norges Bank bought a new stake in shares of Akamai Technologies in the 4th quarter worth $477,454,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Akamai Technologies by 6.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company's stock worth $200,015,000 after buying an additional 160,665 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Akamai Technologies by 2.3% in the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock valued at $199,961,000 after buying an additional 56,411 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

About Akamai Technologies

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.