Akamai Technologies Inc. (NASDAQ:AKAM) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 10,466,484 shares, a decline of 11.7% from the October 31st total of 11,855,922 shares. Based on an average daily volume of 3,079,123 shares, the short-interest ratio is currently 3.4 days. Approximately 6.2% of the company’s stock are short sold.

Several equities research analysts have recently weighed in on the stock. Deutsche Bank AG boosted their target price on shares of Akamai Technologies from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 26th. FBR & Co raised shares of Akamai Technologies from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $42.00 to $55.00 in a research report on Wednesday, October 26th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $64.00 price objective on shares of Akamai Technologies in a research report on Tuesday, August 9th. Pacific Crest reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Tuesday, August 2nd. Finally, Wells Fargo & Co. raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $59.20 to $51.41 in a research report on Friday, August 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.97.

Akamai Technologies (NASDAQ:AKAM) opened at 66.95 on Monday. Akamai Technologies has a 1-year low of $39.43 and a 1-year high of $71.04. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 38.02 and a beta of 0.94. The firm has a 50-day moving average of $62.84 and a 200 day moving average of $55.80.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, October 25th. The technology infrastructure company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm earned $584.10 million during the quarter, compared to analysts’ expectations of $571.92 million. Akamai Technologies had a net margin of 13.59% and a return on equity of 11.61%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. Analysts expect that Akamai Technologies will post $2.66 earnings per share for the current fiscal year.

In other news, EVP James Gemmell sold 1,869 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $67.79, for a total value of $126,699.51. Following the completion of the sale, the executive vice president now owns 7,148 shares of the company’s stock, valued at approximately $484,562.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton bought 15,245 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was bought at an average cost of $65.58 per share, with a total value of $999,767.10. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of AKAM. Acrospire Investment Management LLC boosted 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 valued at $101,000 after buying an additional 900 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of 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 valued at $102,000 after buying an additional 175 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of 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 valued at $149,000 after buying an additional 1,562 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of 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 valued at $154,000 after buying an additional 250 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock valued at $159,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 90.50% of the company’s stock.

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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.

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