Instinet Begins Coverage on Akamai Technologies, Inc. (AKAM)

Equities researchers at Instinet assumed coverage on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research note issued on Thursday, May 25th, Marketbeat.com reports. The brokerage set a “neutral” rating and a $47.62 price target on the technology infrastructure company’s stock. Instinet’s price target suggests a potential downside of 3.80% from the company’s previous close.

AKAM has been the topic of several other research reports. B. Riley restated a “buy” rating and issued a $71.00 price objective on shares of Akamai Technologies in a research note on Friday, March 31st. Nomura assumed coverage on Akamai Technologies in a research note on Thursday, May 25th. They issued a “neutral” rating and a $50.00 price objective on the stock. FBR & Co restated a “hold” rating and issued a $59.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 8th. Piper Jaffray Companies restated a “buy” rating and issued a $74.00 price objective on shares of Akamai Technologies in a research note on Wednesday, February 8th. Finally, Robert W. Baird lowered Akamai Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $55.00 in a research note on Friday, May 5th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. Akamai Technologies presently has a consensus rating of “Hold” and an average price target of $65.21.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

Akamai Technologies (NASDAQ AKAM) traded up 0.63% during mid-day trading on Thursday, reaching $49.50. 5,036,206 shares of the company were exchanged. The company has a market cap of $8.56 billion, a P/E ratio of 27.05 and a beta of 0.71. The stock’s 50-day moving average is $50.08 and its 200-day moving average is $61.06. Akamai Technologies has a 12 month low of $46.81 and a 12 month high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. The firm had revenue of $609.24 million during the quarter, compared to analysts’ expectations of $604.94 million. Equities analysts expect that Akamai Technologies will post $2.56 earnings per share for the current year.

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In other news, CEO F Thomson Leighton bought 20,397 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average cost of $49.02 per share, with a total value of $999,860.94. Following the transaction, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at approximately $12,130,195.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Sagan sold 18,666 shares of Akamai Technologies stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $58.75, for a total value of $1,096,627.50. Following the transaction, the director now owns 60,488 shares of the company’s stock, valued at approximately $3,553,670. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,222 shares of company stock valued at $3,189,678. Corporate insiders own 3.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Cleararc Capital Inc. increased its position in shares of Akamai Technologies by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock worth $254,000 after buying an additional 37 shares during the last quarter. Advantus Capital Management Inc increased its position in shares of Akamai Technologies by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock worth $1,035,000 after buying an additional 75 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Akamai Technologies by 2.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,622 shares of the technology infrastructure company’s stock worth $258,000 after buying an additional 99 shares during the last quarter. Utah Retirement Systems increased its position in shares of Akamai Technologies by 0.3% in the first quarter. Utah Retirement Systems now owns 31,496 shares of the technology infrastructure company’s stock worth $1,880,000 after buying an additional 100 shares during the last quarter. Finally, Clarius Group LLC increased its position in shares of Akamai Technologies by 2.2% in the first quarter. Clarius Group LLC now owns 5,235 shares of the technology infrastructure company’s stock worth $313,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.

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 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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