Akamai Technologies (NASDAQ:AKAM) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other brokerages have also commented on AKAM. Piper Sandler dropped their price target on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. DA Davidson restated a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies has an average rating of “Moderate Buy” and an average price target of $117.47.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $91.07 on Monday. The company has a market cap of $13.80 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.87 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 52 week low of $87.59 and a 52 week high of $129.17. The business has a fifty day simple moving average of $100.66 and a 200-day simple moving average of $97.08.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $741,655. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares during the period. Versant Capital Management Inc raised its position in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares during the period. Innealta Capital LLC acquired a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at approximately $31,000. Finally, Family Firm Inc. acquired a new stake in Akamai Technologies in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.