Akamai Technologies (NASDAQ:AKAM) Stock Rating Lowered by Bank of America

Bank of America lowered shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a neutral rating in a report issued on Friday morning, MarketBeat reports. The brokerage currently has $100.00 price target on the technology infrastructure company’s stock, down from their previous price target of $125.00.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. UBS Group began coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, November 11th. Finally, Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $112.00 to $100.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Trading Down 21.7 %

Shares of Akamai Technologies stock opened at $76.73 on Friday. Akamai Technologies has a 1 year low of $76.50 and a 1 year high of $113.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day moving average price of $96.15 and a 200 day moving average price of $97.86. The company has a market capitalization of $11.53 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.58 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. Sell-side analysts anticipate that Akamai Technologies will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % 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, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,782 shares of company stock valued at $1,523,951. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. TCTC Holdings LLC grew its holdings in Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after purchasing an additional 102 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after acquiring an additional 103 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Akamai Technologies by 85.7% in the third 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 in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Akamai Technologies by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

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.