Akamai Technologies (NASDAQ:AKAM) Downgraded by Wall Street Zen to Hold

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

Several other analysts also recently weighed in on the stock. Scotiabank decreased their price target on shares of 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. UBS Group raised their price objective on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Morgan Stanley reduced their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. KeyCorp started coverage on Akamai Technologies in a report on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective on the stock. Finally, Piper Sandler restated a "neutral" rating and set a $88.00 price objective (up from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of "Hold" and an average target price of $101.25.

Akamai Technologies Trading Up 0.3%

Shares of AKAM stock traded up $0.28 during trading hours on Friday, reaching $80.68. 1,348,837 shares of the stock were exchanged, compared to its average volume of 2,076,563. Akamai Technologies has a 12-month low of $67.51 and a 12-month high of $106.80. 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 company's 50-day moving average price is $78.11 and its 200-day moving average price is $82.85. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.54 and a beta of 0.77.

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

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction that occurred 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. This represents a 23.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $388,700.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 22,084 shares of company stock valued at $1,726,847 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently modified their holdings of AKAM. Vanguard Group Inc. boosted 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 buying an additional 425,461 shares in the last quarter. First Trust Advisors LP boosted its holdings in Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after buying an additional 690,341 shares in the last quarter. Norges Bank purchased a new stake in Akamai Technologies during the fourth quarter worth $477,454,000. Edmond DE Rothschild Holding S.A. boosted its holdings in Akamai Technologies by 6.9% during the first 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 boosted its holdings in Akamai Technologies by 2.3% during the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock worth $199,961,000 after buying an additional 56,411 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

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.