Akamai Technologies (NASDAQ:AKAM) Downgraded to Hold Rating by Craig Hallum

Akamai Technologies (NASDAQ:AKAM) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They currently have a $90.00 price target on the technology infrastructure company’s stock. Craig Hallum’s price target indicates a potential downside of 8.21% from the stock’s previous close.

AKAM has been the topic of several other reports. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $100.00 in a research report on Friday. Piper Sandler cut Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $112.00 to $100.00 in a report on Friday. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Finally, Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.42.

Akamai Technologies Stock Performance

Akamai Technologies stock opened at $98.05 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.73 billion, a P/E ratio of 29.01, a PEG ratio of 3.58 and a beta of 0.65. The stock’s 50 day moving average is $96.60 and its 200 day moving average is $97.96. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. On average, equities research analysts predict that Akamai Technologies will post 4.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s 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 transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,782 shares of company stock worth $1,523,951. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AKAM. Norges Bank purchased a new position in shares of Akamai Technologies during the fourth quarter valued at about $477,454,000. First Trust Advisors LP grew its position in shares of Akamai Technologies by 15.6% during the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service grew its position in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Akamai Technologies by 43.4% during the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock valued at $74,473,000 after purchasing an additional 235,394 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.