Akamai Technologies, Inc. (NASDAQ:AKAM) Short Interest Update

Akamai Technologies, Inc. (NASDAQ:AKAM) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 9,110,000 shares, an increase of 14.0% from the October 15th total of 7,990,000 shares. Approximately 6.1% of the company’s stock are short sold. Based on an average trading volume of 1,520,000 shares, the days-to-cover ratio is presently 6.0 days.

Insider Activity

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 11.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock worth $1,065,975 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Akamai Technologies by 85.7% in the third 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 in the last quarter. Versant Capital Management Inc boosted its position in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares during the period. Innealta Capital LLC acquired a new position in shares of Akamai Technologies in the second quarter worth $28,000. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies during the first quarter worth $31,000. Finally, Family Firm Inc. acquired a new stake in shares of Akamai Technologies in the second quarter valued at $35,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on AKAM. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. Robert W. Baird cut their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th. Finally, TD Cowen upped their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.47.

Akamai Technologies Price Performance

AKAM stock opened at $87.43 on Friday. The business’s fifty day moving average price is $99.84 and its 200 day moving average price is $96.78. Akamai Technologies has a 12-month low of $86.78 and a 12-month high of $129.17. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $13.13 billion, a PE ratio of 25.87, a P/E/G ratio of 3.36 and a beta of 0.68.

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.