Akamai Technologies (NASDAQ:AKAM) Upgraded by Hsbc Global Res to Strong-Buy Rating

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

A number of other brokerages have also recently issued reports on AKAM. Piper Sandler decreased their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday. DA Davidson reaffirmed a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Craig Hallum raised Akamai Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Stock Up 1.9 %

Shares of NASDAQ AKAM opened at $91.07 on Monday. The stock has a market cap of $13.80 billion, a PE ratio of 26.94, a price-to-earnings-growth 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 50-day moving average price of $100.66 and a 200 day moving average price of $97.08.

Insider Activity at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares of the company’s stock, 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. Insiders sold 7,500 shares of company stock valued at $741,655 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Akamai Technologies by 0.7% during the first quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after buying an additional 124,359 shares in the last quarter. Earnest Partners LLC increased its position in Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock worth $191,966,000 after buying an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after buying an additional 347,626 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Akamai Technologies by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares during the period. Finally, Champlain Investment Partners LLC grew its position in shares of Akamai Technologies by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after purchasing an additional 222,290 shares during the period. 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.