Akamai Technologies Inc. (NASDAQ:AKAM) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 11,860,525 shares, a growth of 15.1% from the August 15th total of 10,301,492 shares. Currently, 7.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,486,549 shares, the short-interest ratio is currently 8.0 days.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 3,550 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $58.00, for a total transaction of $205,900.00. Following the sale, the insider now directly owns 48,926 shares in the company, valued at approximately $2,837,708. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Gemmell sold 1,869 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $50.45, for a total transaction of $94,291.05. Following the sale, the executive vice president now owns 7,148 shares in the company, valued at $360,616.60. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Several institutional investors have recently modified their holdings of AKAM. Acrospire Investment Management LLC raised its stake in Akamai Technologies by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 900 shares during the last quarter. Advisory Services Network LLC raised its stake in Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock worth $102,000 after buying an additional 175 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Akamai Technologies by 2.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,142 shares of the technology infrastructure company’s stock worth $119,000 after buying an additional 56 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in Akamai Technologies by 142.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,659 shares of the technology infrastructure company’s stock worth $149,000 after buying an additional 1,562 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock worth $154,000 after buying an additional 250 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

AKAM has been the topic of a number of recent research reports. SunTrust Banks Inc. initiated coverage on shares of Akamai Technologies in a report on Thursday, July 21st. They issued a “buy” rating and a $66.00 price objective on the stock. Zacks Investment Research downgraded shares of Akamai Technologies from a “hold” rating to a “sell” rating in a report on Friday, July 29th. KeyCorp reiterated a “buy” rating on shares of Akamai Technologies in a report on Tuesday, June 7th. FBR & Co lowered their price objective on shares of Akamai Technologies from $43.00 to $42.00 and set an “underperform” rating on the stock in a report on Wednesday, July 27th. Finally, TheStreet upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, May 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.35.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at 51.36 on Wednesday. The company has a market cap of $8.97 billion, a PE ratio of 28.19 and a beta of 1.47. The stock has a 50 day moving average of $52.58 and a 200-day moving average of $53.42. Akamai Technologies has a 12 month low of $39.43 and a 12 month high of $76.39.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The company had revenue of $572 million for the quarter, compared to analyst estimates of $574.86 million. During the same period in the prior year, the firm earned $0.57 earnings per share. Akamai Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that Akamai Technologies will post $2.57 earnings per share for the current year.

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’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.

5 Day Chart for NASDAQ:AKAM

Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.