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

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 8,000,000 shares, an increase of 7.4% from the March 15th total of 7,450,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,720,000 shares, the days-to-cover ratio is presently 4.7 days.

Insider Buying and Selling at Akamai Technologies

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction that occurred on 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 directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. Insiders have sold a total of 37,353 shares of company stock valued at $4,159,203 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently modified their holdings of the company. Ancora Advisors LLC boosted its stake in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company's stock worth $25,000 after acquiring an additional 127 shares in the last quarter. Planned Solutions Inc. bought a new stake in Akamai Technologies during the fourth quarter worth about $37,000. Headinvest LLC bought a new stake in Akamai Technologies during the third quarter worth about $40,000. Belpointe Asset Management LLC boosted its stake in Akamai Technologies by 50.1% during the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company's stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Akamai Technologies in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 94.28% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. boosted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an "underweight" rating in a research note on Wednesday, February 14th. Royal Bank of Canada restated a "sector perform" rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, Robert W. Baird upgraded shares of Akamai Technologies from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.27.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM traded down $1.25 during mid-day trading on Monday, reaching $102.22. 1,560,477 shares of the company were exchanged, compared to its average volume of 1,675,449. Akamai Technologies has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $15.49 billion, a PE ratio of 28.96, a PEG ratio of 2.92 and a beta of 0.72. The company's 50 day moving average price is $110.60 and its 200 day moving average price is $112.66.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results 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. The company had revenue of $995.00 million for the quarter, compared to analysts' expectations of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Sell-side analysts forecast that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

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.