Akamai Technologies (AKAM) Given “Neutral” Rating at JPMorgan Chase & Co.
Akamai Technologies (NASDAQ:AKAM)‘s stock had its “neutral” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Wednesday, MarketBeat.com reports. They currently have a $75.00 target price on the technology infrastructure company’s stock, up from their prior target price of $58.00. JPMorgan Chase & Co.’s target price indicates a potential upside of 14.47% from the company’s current price.
Several other research firms also recently issued reports on AKAM. B. Riley boosted their price target on Akamai Technologies from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Morgan Stanley restated a “sell” rating and issued a $52.00 price target on shares of Akamai Technologies in a research note on Wednesday, December 27th. Wells Fargo & Co set a $57.00 price target on Akamai Technologies and gave the company a “hold” rating in a research note on Tuesday, October 10th. Credit Suisse Group boosted their price target on Akamai Technologies from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Finally, Nomura boosted their price target on Akamai Technologies from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.20.
Akamai Technologies (NASDAQ:AKAM) traded up $0.31 on Wednesday, reaching $65.52. The company had a trading volume of 1,083,351 shares, compared to its average volume of 3,131,965. The company has a market cap of $11,082.84, a P/E ratio of 39.47, a PEG ratio of 2.65 and a beta of 0.68. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $71.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01.
In other news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $66.29, for a total transaction of $662,900.00. Following the completion of the sale, the insider now directly owns 32,319 shares in the company, valued at approximately $2,142,426.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rick M. Mcconnell sold 48,369 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total value of $2,748,810.27. Following the sale, the insider now owns 45,974 shares of the company’s stock, valued at $2,612,702.42. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 55,752 shares of company stock valued at $2,999,371 and have sold 71,971 shares valued at $4,141,642. Corporate insiders own 3.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Hexavest Inc. acquired a new position in shares of Akamai Technologies during the 4th quarter worth $39,344,000. Nisa Investment Advisors LLC raised its holdings in shares of Akamai Technologies by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock worth $5,329,000 after buying an additional 788 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Akamai Technologies during the 4th quarter worth $1,509,000. Aurora Investment Counsel acquired a new position in shares of Akamai Technologies during the 4th quarter worth $2,644,000. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Akamai Technologies by 2.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock worth $15,205,000 after buying an additional 7,327 shares in the last quarter. 86.33% of the stock is owned by institutional investors.
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About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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