Akamai Technologies, Inc. (AKAM) Short Interest Update
Akamai Technologies, Inc. (NASDAQ:AKAM) saw a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 7,240,589 shares, a decrease of 33.2% from the December 15th total of 10,843,067 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average daily volume of 3,849,563 shares, the days-to-cover ratio is currently 1.9 days.
Akamai Technologies (NASDAQ:AKAM) opened at $65.52 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. Akamai Technologies has a one year low of $44.65 and a one year high of $71.34. The stock has a market cap of $11,080.00, a P/E ratio of 39.23, a PEG ratio of 2.65 and a beta of 0.68.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. During the same period last year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. analysts predict that Akamai Technologies will post 1.89 EPS for the current year.
A number of analysts recently weighed in on AKAM shares. TheStreet raised shares of Akamai Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Morgan Stanley reissued a “sell” rating and issued a $52.00 price objective on shares of Akamai Technologies in a research report on Wednesday, December 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 price objective (up from $58.00) on shares of Akamai Technologies in a research report on Wednesday, January 10th. Zacks Investment Research lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Wells Fargo & Co set a $57.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.20.
In related news, insider Rick M. Mcconnell sold 48,369 shares of the stock in a transaction dated 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 directly owns 45,974 shares of the company’s stock, valued at approximately $2,612,702.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $52.44, for a total transaction of $151,708.92. Following the completion of the sale, the senior vice president now directly owns 8,046 shares in the company, valued at $421,932.24. The disclosure for this sale can be found here. Insiders sold a total of 71,971 shares of company stock worth $4,141,642 over the last three months. 3.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Akamai Technologies by 32.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,358 shares of the technology infrastructure company’s stock valued at $267,000 after purchasing an additional 1,325 shares in the last quarter. Norinchukin Bank The boosted its stake in shares of Akamai Technologies by 6.6% during the second quarter. Norinchukin Bank The now owns 11,997 shares of the technology infrastructure company’s stock valued at $598,000 after purchasing an additional 742 shares in the last quarter. Comerica Securities Inc. boosted its stake in shares of Akamai Technologies by 29.7% during the second quarter. Comerica Securities Inc. now owns 6,982 shares of the technology infrastructure company’s stock valued at $348,000 after purchasing an additional 1,599 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Akamai Technologies by 44.4% during the second quarter. Amalgamated Bank now owns 18,703 shares of the technology infrastructure company’s stock valued at $932,000 after purchasing an additional 5,753 shares in the last quarter. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Akamai Technologies by 1,071.1% during the second quarter. BlueMountain Capital Management LLC now owns 13,913 shares of the technology infrastructure company’s stock valued at $693,000 after purchasing an additional 12,725 shares in the last quarter. Hedge funds and other institutional investors own 86.36% of the company’s stock.
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Akamai Technologies Company Profile
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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