Akamai Technologies (NASDAQ:AKAM) Given New $72.00 Price Target at JPMorgan Chase & Co.

Akamai Technologies (NASDAQ:AKAM) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $76.00 to $72.00 in a report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the technology infrastructure company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 13.48% from the company’s previous close.

AKAM has been the topic of several other reports. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and reduced their target price for the stock from $125.00 to $98.00 in a research report on Friday. Robert W. Baird lowered their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. HSBC raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Monday, November 11th. Finally, Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.90.

Akamai Technologies Trading Down 15.1 %

Shares of NASDAQ AKAM traded down $14.81 during midday trading on Friday, reaching $83.22. 6,125,868 shares of the stock were exchanged, compared to its average volume of 1,863,846. The stock has a 50 day moving average price of $96.60 and a 200-day moving average price of $97.96. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $12.50 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.58 and a beta of 0.65. Akamai Technologies has a 52-week low of $82.15 and a 52-week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts expect that Akamai Technologies will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 over the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Trading of Akamai Technologies

Several large investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC lifted its holdings in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after acquiring an additional 102 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after buying an additional 103 shares during the period. Van ECK Associates Corp boosted its position in Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after acquiring an additional 105 shares during the period. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of Akamai Technologies by 0.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock valued at $1,912,000 after purchasing an additional 114 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.