Akamai Technologies Inc. (NASDAQ:AKAM) was up 1.5% during mid-day trading on Wednesday . The stock traded as high as $57.69 and last traded at $56.98, with a volume of 985,012 shares traded. The stock had previously closed at $56.16.

Several equities research analysts have recently issued reports on AKAM shares. B. Riley reissued a “buy” rating and set a $70.00 target price on shares of Akamai Technologies in a research note on Friday, April 8th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $75.00 price target on shares of Akamai Technologies in a research note on Thursday, April 14th. Vetr lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $57.70 price target on the stock. in a research note on Tuesday, April 26th. TheStreet raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 26th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Akamai Technologies in a research note on Tuesday, June 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $64.63.

The stock has a market capitalization of $9.98 billion and a price-to-earnings ratio of 32.12. The stock has a 50 day moving average of $54.29 and a 200-day moving average of $51.97.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, April 26th. The technology infrastructure company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $568 million for the quarter, compared to analysts’ expectations of $564.04 million. During the same period in the previous year, the company posted $0.61 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Akamai Technologies Inc. will post $2.69 earnings per share for the current year.

In related news, EVP James Gemmell sold 1,951 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $54.48, for a total transaction of $106,290.48. Following the transaction, the executive vice president now owns 7,148 shares of the company’s stock, valued at $389,423.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Thomson Leighton acquired 19,546 shares of Akamai Technologies stock in a transaction that occurred on Friday, April 15th. The shares were purchased at an average cost of $51.15 per share, for a total transaction of $999,777.90. The disclosure for this purchase can be found here.

A number of institutional investors recently modified their holdings of the company. World Asset Management Inc raised its position in shares of Akamai Technologies by 3.3% in the fourth quarter. World Asset Management Inc now owns 19,220 shares of the technology infrastructure company’s stock valued at $1,011,000 after buying an additional 617 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Akamai Technologies by 0.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,448 shares of the technology infrastructure company’s stock valued at $1,234,000 after buying an additional 200 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of Akamai Technologies by 6.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 23,664 shares of the technology infrastructure company’s stock valued at $1,245,000 after buying an additional 1,459 shares during the period. Trexquant Investment LP bought a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $1,305,000. Finally, Pitcairn Co. raised its position in shares of Akamai Technologies by 65.3% in the fourth quarter. Pitcairn Co. now owns 26,985 shares of the technology infrastructure company’s stock valued at $1,420,000 after buying an additional 10,659 shares during the period.

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

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