Akamai Technologies (NASDAQ:AKAM) Sets New 12-Month High – Still a Buy?

Akamai Technologies, Inc. (NASDAQ:AKAM) hit a new 52-week high on Thursday . The stock traded as high as $105.71 and last traded at $104.9840, with a volume of 2147863 shares traded. The stock had previously closed at $94.80.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AKAM. President Capital lifted their price objective on shares of Akamai Technologies from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Oppenheimer lifted their target price on Akamai Technologies from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Royal Bank Of Canada increased their price target on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Monday, January 5th. Raymond James Financial upped their price objective on shares of Akamai Technologies from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, Citigroup boosted their price target on shares of Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $96.94.

Akamai Technologies Trading Up 9.9%

The firm has a market capitalization of $14.99 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 2.91 and a beta of 0.70. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $90.65 and its 200 day moving average is $82.62.

Insider Activity at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,500 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $97.00, for a total value of $339,500.00. Following the completion of the transaction, the chief technology officer owned 18,074 shares in the company, valued at $1,753,178. This trade represents a 16.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 6,560 shares of Akamai Technologies stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $88.03, for a total value of $577,476.80. Following the completion of the transaction, the chief financial officer directly owned 16,442 shares in the company, valued at $1,447,389.26. This represents a 28.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,818 shares of company stock worth $2,589,254. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. raised its position in Akamai Technologies by 295.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 336 shares of the technology infrastructure company’s stock valued at $26,000 after buying an additional 251 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Akamai Technologies by 130.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock valued at $26,000 after purchasing an additional 195 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Akamai Technologies by 566.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 340 shares of the technology infrastructure company’s stock valued at $26,000 after purchasing an additional 289 shares during the period. JFS Wealth Advisors LLC boosted its holdings in shares of Akamai Technologies by 626.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 305 shares of the technology infrastructure company’s stock worth $27,000 after purchasing an additional 263 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Akamai Technologies by 497.0% during the third quarter. Wolff Wiese Magana LLC now owns 400 shares of the technology infrastructure company’s stock worth $30,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.