Akamai Technologies’ (AKAM) “Outperform” Rating Reiterated at Evercore ISI

Evercore ISI reaffirmed their outperform rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $110.00 target price on the technology infrastructure company’s stock.

AKAM has been the topic of several other research reports. Tigress Financial restated a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, UBS Group started coverage on Akamai Technologies in a research note on Monday. They issued a “neutral” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.85.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $94.58 on Tuesday. The firm’s 50-day moving average price is $97.68 and its 200-day moving average price is $96.62. Akamai Technologies has a 1-year low of $84.70 and a 1-year high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $14.21 billion, a P/E ratio of 27.98, a P/E/G ratio of 3.83 and a beta of 0.65.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the sale, the executive vice president now directly owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares in the company, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock valued at $1,733,716 in the last three months. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

A number of large investors have recently modified their holdings of AKAM. Farther Finance Advisors LLC grew its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Akamai Technologies during the 2nd quarter valued at $28,000. Family Firm Inc. purchased a new position in Akamai Technologies in the 2nd quarter worth $35,000. Eastern Bank bought a new stake in Akamai Technologies in the third quarter worth $71,000. Finally, Covestor Ltd boosted its position in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

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.