Akamai Technologies, Inc. (NASDAQ:AKAM) Short Interest Down 5.6% in March

Akamai Technologies, Inc. (NASDAQ:AKAMGet Free Report) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 7,450,000 shares, a decline of 5.6% from the February 29th total of 7,890,000 shares. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is presently 4.4 days. Approximately 5.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

AKAM has been the subject of several research analyst reports. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their target price for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. KeyCorp boosted their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Finally, Piper Sandler boosted their price target on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Check Out Our Latest Report on AKAM

Insider Activity at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders sold a total of 37,353 shares of company stock valued at $4,159,203 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its position in Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after buying an additional 97 shares during the last quarter. Manchester Capital Management LLC raised its position in Akamai Technologies by 6.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock valued at $192,000 after buying an additional 97 shares during the last quarter. ORG Partners LLC raised its position in Akamai Technologies by 16.7% in the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after buying an additional 100 shares during the last quarter. Private Trust Co. NA raised its position in Akamai Technologies by 17.9% in the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after buying an additional 108 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Akamai Technologies by 0.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after buying an additional 108 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $107.38 on Wednesday. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.07 and a beta of 0.72. Akamai Technologies has a 52-week low of $76.85 and a 52-week high of $129.17. The stock’s 50 day moving average price is $113.97 and its two-hundred day moving average price is $112.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. During the same period in the prior year, the firm earned $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts predict that Akamai Technologies will post 4.84 earnings per share for the current year.

Akamai Technologies Company Profile

(Get Free Report)

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.

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