Akamai Technologies (NASDAQ:AKAM) Rating Increased to Buy at HSBC

HSBC upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a buy rating in a research note published on Monday, MarketBeat Ratings reports. The firm currently has $121.00 price objective on the technology infrastructure company’s stock.

Several other brokerages have also recently issued reports on AKAM. DA Davidson restated a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Monday, July 29th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Scotiabank reduced their price objective on shares of 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. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Price Performance

AKAM stock opened at $88.35 on Monday. The company has a 50 day simple moving average of $100.02 and a 200 day simple moving average of $96.88. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 3.36 and a beta of 0.68. Akamai Technologies has a 1 year low of $87.59 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.32.

Insider Buying and Selling

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the business’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 completion of the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Akamai Technologies by 19.6% in the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after purchasing an additional 6,724 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Akamai Technologies by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 211,820 shares of the technology infrastructure company’s stock valued at $23,038,000 after acquiring an additional 28,304 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Akamai Technologies by 17.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 185,101 shares of the technology infrastructure company’s stock worth $20,132,000 after purchasing an additional 27,484 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in shares of Akamai Technologies in the 1st quarter worth approximately $1,093,000. Hedge funds and other institutional investors 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.