Robert W. Baird Cuts Akamai Technologies (NASDAQ:AKAM) Price Target to $115.00

Akamai Technologies (NASDAQ:AKAM) had its price objective cut by Robert W. Baird from $120.00 to $115.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the technology infrastructure company’s stock.

Other research analysts also recently issued reports about the company. Scotiabank cut their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Piper Sandler dropped their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price target for the company in a report on Monday, July 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Price Performance

Shares of AKAM opened at $88.75 on Monday. The firm has a market cap of $13.33 billion, a PE ratio of 26.26, a PEG ratio of 3.36 and a beta of 0.68. The firm’s 50 day moving average price is $100.23 and its 200 day moving average price is $96.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.33. Akamai Technologies has a twelve month low of $87.59 and a twelve month high of $129.17.

Insider Buying and Selling

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock valued at $741,655. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 114 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Akamai Technologies in the 1st quarter valued at approximately $31,000. Versant Capital Management Inc grew its stake in shares of Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Innealta Capital LLC acquired a new position in Akamai Technologies in the 2nd quarter worth about $28,000. Finally, Family Firm Inc. acquired a new position in shares of Akamai Technologies in the second quarter valued at approximately $35,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.