Akamai Technologies (NASDAQ:AKAM) Rating Increased to Strong-Buy at Hsbc Global Res

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

Other equities analysts have also issued research reports about the company. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Monday. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a research note on Friday, August 9th. Tigress Financial restated a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Price Performance

AKAM opened at $88.35 on Monday. The stock has a 50-day moving average price of $100.02 and a 200-day moving average price of $96.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.32. The firm has a market cap of $13.27 billion, a PE 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.

Insider Buying and Selling

In other news, Director William Raymond Wagner sold 1,000 shares of the company’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 sale, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’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 sale, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This trade represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Akamai Technologies during the 2nd quarter valued at approximately $28,000. EntryPoint Capital LLC bought a new position in shares of Akamai Technologies during the 1st quarter valued at approximately $31,000. Finally, Family Firm Inc. bought a new position in Akamai Technologies in the 2nd quarter valued at $35,000. 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.