After Reaching Milestone, Is Akamai Technologies Inc (NASDAQ:AKAM)’s Short Interest Revealing Something?

October 2, 2018 - By Michael Collier

Akamai Technologies, Inc. (NASDAQ:AKAM) Logo

Investors sentiment increased to 1.34 in Q2 2018. Its up 0.42, from 0.92 in 2018Q1. It improved, as 32 investors sold Akamai Technologies, Inc. shares while 139 reduced holdings. 72 funds opened positions while 157 raised stakes. 136.37 million shares or 3.83% less from 141.80 million shares in 2018Q1 were reported.
Jaffetilchin Prns Ltd Liability Corporation invested in 0.15% or 9,410 shares. Sheets Smith Wealth Mgmt has invested 0.08% in Akamai Technologies, Inc. (NASDAQ:AKAM). Glenmede Trust Co Na has invested 0.01% in Akamai Technologies, Inc. (NASDAQ:AKAM). 163,338 were accumulated by Arrowstreet Capital Ltd Partnership. Daiwa Grp Incorporated stated it has 5,584 shares. First Trust Advsr Limited Partnership owns 0.59% invested in Akamai Technologies, Inc. (NASDAQ:AKAM) for 3.86M shares. Element Cap Mgmt Lc reported 0.04% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM). State Treasurer State Of Michigan invested in 50,523 shares or 0.03% of the stock. Voya Management Limited Liability Corporation holds 0.01% or 94,528 shares. Jane Street stated it has 0.01% in Akamai Technologies, Inc. (NASDAQ:AKAM). Miller Howard Invs Ny owns 33,759 shares. Numerixs Investment Techs Incorporated owns 0.09% invested in Akamai Technologies, Inc. (NASDAQ:AKAM) for 5,500 shares. Morgan Stanley, New York-based fund reported 547,535 shares. Nuwave Management Limited Liability Company holds 57 shares. Riverhead Capital Lc, a Delaware-based fund reported 37,712 shares.

Since April 2, 2018, it had 0 insider purchases, and 14 selling transactions for $11.08 million activity. Karon Adam sold $400,000 worth of stock or 5,000 shares. MCCONNELL RICK M also sold $536,228 worth of Akamai Technologies, Inc. (NASDAQ:AKAM) on Wednesday, April 18. Another trade for 4,000 shares valued at $283,120 was made by Blumofe Robert on Wednesday, May 2. Shares for $2.98M were sold by SAGAN PAUL. 4,543 shares were sold by Ahola Aaron, worth $345,768 on Tuesday, July 10. The insider SELIGMAN NAOMI O sold $581,270.

The stock of Akamai Technologies Inc (NASDAQ:AKAM) registered a decrease of 4.35% in short interest. AKAM’s total short interest was 8.86 million shares in October as published by FINRA. Its down 4.35% from 9.27 million shares, reported previously. With 1.17 million shares average volume, it will take short sellers 8 days to cover their AKAM’s short positions. The short interest to Akamai Technologies Inc’s float is 5.39%.

The stock decreased 2.21% or $1.62 during the last trading session, reaching $71.53. About 900,192 shares traded. Akamai Technologies, Inc. (NASDAQ:AKAM) has risen 62.41% since October 2, 2017 and is uptrending. It has outperformed by 46.79% the S&P500.

Akamai Technologies, Inc. provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company has market cap of $12.13 billion. The firm offers Web and mobile performance solutions, such as Ion, a situational performance solution that consists of an integrated suite of Web delivery, acceleration, and optimization technologies; Dynamic Site Accelerator that helps in consistent Website performance; IP Application Accelerator to enable enterprises to deliver Internet Protocol applications; Global Traffic Management, a fault-tolerant solution; Image Manager that automatically optimizes online images; and Cloudlets, which provides self-serviceable controls and capabilities. It has a 66.98 P/E ratio. It also provides cloud security solutions, including Kona Site Defender, Bot Manager, Fast Domain Name System, Prolexic Routed, and Client Reputation; enterprise solutions comprising Enterprise Application Access and Akamai Cloud Connect.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Coverage

Among 8 analysts covering Akamai Technologies (NASDAQ:AKAM), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Akamai Technologies has $9900 highest and $80 lowest target. $88.38’s average target is 23.56% above currents $71.53 stock price. Akamai Technologies had 11 analyst reports since May 1, 2018 according to SRatingsIntel. The firm has “Overweight” rating given on Tuesday, May 1 by JP Morgan. FBR Capital maintained it with “Buy” rating and $97 target in Monday, July 23 report. The rating was downgraded by Deutsche Bank on Wednesday, August 1 to “Hold”. Oppenheimer maintained Akamai Technologies, Inc. (NASDAQ:AKAM) on Tuesday, May 1 with “Buy” rating. The firm has “Hold” rating by Credit Suisse given on Friday, June 22. The firm has “Neutral” rating by Credit Suisse given on Monday, August 13. Craig Hallum maintained Akamai Technologies, Inc. (NASDAQ:AKAM) on Tuesday, May 1 with “Buy” rating. FBR Capital maintained Akamai Technologies, Inc. (NASDAQ:AKAM) rating on Friday, June 8. FBR Capital has “Buy” rating and $9900 target. DA Davidson upgraded Akamai Technologies, Inc. (NASDAQ:AKAM) rating on Monday, September 10. DA Davidson has “Buy” rating and $93 target. The firm has “Buy” rating given on Wednesday, June 27 by FBR Capital.

More news for Akamai Technologies, Inc. (NASDAQ:AKAM) were recently published by: Benzinga.com, which released: “Akamai To Hold Third Quarter 2018 Investor Conference Call On Monday, October 29th, At 4:30 PM ET” on October 02, 2018. Benzinga.com‘s article titled: “DA Davidson Upgrades Akamai: ‘Revenue From New Products Has Tripled In Just The Last Year'” and published on September 10, 2018 is yet another important article.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Chart

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