Akamai Technologies (NASDAQ:AKAM) Rating Lowered to “Hold” at TD Cowen

Akamai Technologies (NASDAQ:AKAM) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Finviz reports. They presently have a $98.00 price objective on the technology infrastructure company’s stock, down from their previous price objective of $125.00. TD Cowen’s price target points to a potential downside of 0.05% from the company’s previous close.

Several other brokerages also recently commented on AKAM. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Scotiabank dropped their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. UBS Group assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target on the stock. Finally, Robert W. Baird dropped their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.26.

Akamai Technologies Stock Performance

Shares of AKAM opened at $98.05 on Friday. 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 stock has a 50-day moving average of $96.60 and a 200-day moving average of $97.96. The company has a market cap of $14.73 billion, a PE ratio of 29.01, a P/E/G ratio of 3.55 and a beta of 0.65. Akamai Technologies has a one year low of $84.70 and a one year high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 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 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock worth $1,523,951 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AKAM. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after buying an additional 234 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $49,000. Bruce G. Allen Investments LLC grew its stake in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $57,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.