It is currently trading at $51.46 which is just a bit higher than $48.89, the stock’s 50 day moving average and which is slightly above the 200 day moving average of $50.12. The 50 day moving average was up $2.57 or +5.25% and the 200 day average went up $1.34 or +2.68%. Akamai Technologies, Inc. shares had a trading volume of 1,901K by the end of trading on Tuesday. Volume was down 27.43% under the stocks average daily volume.
Investors are a little more bullish on Akamai Technologies, Inc. lately if you put credence in the downtick in short interest. The stock had a fall in short interest between September 15, 2017 and September 29, 2017 of -1.17%. Short interest decreased 94,713 over that timeframe. Days to cover decreased 0.0 to 5.0 and the percentage of shorted shares is 0.05% as of September 29.
There has been some selling insider activity on Akamai Technologies, Inc. (NASDAQ:AKAM) recently. Rick M. Mcconnell, President Prods & Development reported the sale of 7,579 shares of (AKAM). The shares were purchased at an average price of $51.00. The President Prods & Development now owns $2,229,669 of the stock according to the SEC filing.
The following firms have recently changed their position in AKAM. Shell Asset Management CO divested its investment by shedding 325 shares a decrease of 3.2% in the quarter. Shell Asset Management CO owns 9,938 shares with a value of $484,000. The value of the position overall is down by 5.3%. As of quarter end Skylands Capital, LLC had acquired a total of 9,600 shares growing its stake by 39.6%. The value of the investment in (AKAM) increased from $1,208,000 to $1,649,000 increasing 36.5% quarter to quarter.
State Treasurer State Of Michigan reduced its ownership by selling 4,800 shares a decrease of 8.4% from 06/30/2017 to 09/30/2017. State Treasurer State Of Michigan currently owns 52,023 shares valued at $2,535,000. The total value of its holdings decreased 10.4%. As of the end of the quarter Robeco Institutional Asset Management B.v. had sold 1,759 shares trimming its holdings by 12.5%. The value of the investment in Akamai Technologies, Inc. went from $699,000 to $597,000 a change of $102,000 since the last quarter.
July 26 investment analysts at Morgan Stanley held the company rating at “Underweight” and moved down the price target to $48.00 from $70.00. On September 5 Nomura kept the company rating at “Neutral” and lowered the price expectation from $50.00 to $47.00.
Akamai Technologies, Inc. currently has a P/E ratio of 29.39 and the market value is 8.82B. As of the last earnings report the EPS was $1.75 and is estimated to be $2.50 for the current year with 171,423,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.60 and the next full year EPS is projected to be $2.64.
Akamai Technologies, Inc., launched on August 20, 1998, is involved in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. As of December 31, 2016, the Business’s globally-distributed platform included more than 200,000 servers in over 1,600 networks in 131 countries. It 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, and enterprise professional services. The Business’s solutions include Performance and Security Solutions, Media Delivery Solutions, and Service and Support Solutions..