Short Interest Don’t Lie: Time to Reconsider Akamai Technologies Incorporated (NASDAQ:AKAM) After More Short Sellers?

November 23, 2016 - By Peter Erickson   ·   0 Comments

Short Interest Don't Lie: Time to Reconsider Akamai Technologies Incorporated (NASDAQ:AKAM) After More Short Sellers?

The stock of Akamai Technologies Incorporated (NASDAQ:AKAM) registered an increase of 2.24% in short interest. AKAM’s total short interest was 11.86 million shares in November as published by FINRA. Its up 2.24% from 11.60M shares, reported previously. With 3.83M shares average volume, it will take short sellers 3 days to cover their AKAM’s short positions. The short interest to Akamai Technologies Incorporated’s float is 6.98%. About 898,285 shares traded hands. Akamai Technologies, Inc. (NASDAQ:AKAM) has risen 30.10% since April 21, 2016 and is uptrending. It has outperformed by 24.77% the S&P500.

Akamai Technologies, Inc. is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The company has a market cap of $11.49 billion. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It has a 37.64 P/E ratio. It is involved in offering content delivery network services.

Insitutional Activity: The institutional sentiment increased to 1.07 in Q2 2016. Its up 0.02, from 1.05 in 2016Q1. The ratio is positive, as 57 funds sold all Akamai Technologies, Inc. shares owned while 140 reduced positions. 41 funds bought stakes while 166 increased positions. They now own 144.96 million shares or 5.77% less from 153.83 million shares in 2016Q1.
Sg Americas Secs Ltd Liability Corp last reported 0.01% of its portfolio in the stock. California Public Employees Retirement reported 469,750 shares or 0.04% of all its holdings. Royal London Asset Mgmt holds 0.05% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM) for 58,522 shares. Kanaly Communication reported 725 shares or 0.01% of all its holdings. Welch & Forbes Limited Com accumulated 32,110 shares or 0.05% of the stock. First Citizens National Bank & Trust accumulated 4,625 shares or 0.02% of the stock. Mitsubishi Ufj And Banking last reported 356,060 shares in the company. Parsons Cap Mngmt Ri has invested 0.04% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM). Delta Lloyd Nv holds 12,597 shares or 0.02% of its portfolio. Kornitzer Capital Mgmt Ks accumulated 0.34% or 340,618 shares. American Natl Registered Invest Advisor owns 7,890 shares or 0.2% of their US portfolio. Montag A And Assocs Inc holds 72,729 shares or 0.54% of its portfolio. Los Angeles Mgmt Equity Rech accumulated 0.03% or 65,062 shares. Utah Retirement Systems last reported 31,496 shares in the company. The New Jersey-based Lord Abbett & Company Ltd Company has invested 0.18% in Akamai Technologies, Inc. (NASDAQ:AKAM).

Insider Transactions: Since June 2, 2016, the stock had 5 insider buys, and 16 selling transactions for $4.87 million net activity. 17,456 shares were bought by LEIGHTON F THOMSON, worth $999,880 on Friday, July 15. SAGAN PAUL sold 23,255 shares worth $1.22M. Another trade for 2,000 shares valued at $138,780 was made by Blumofe Robert on Tuesday, November 1. The insider Greenthal Jill A sold $692,000. 1,869 Akamai Technologies, Inc. (NASDAQ:AKAM) shares with value of $126,700 were sold by Gemmell James. Shares for $417,163 were sold by MCCONNELL RICK M. On Thursday, June 2 SELIGMAN NAOMI O sold $93,485 worth of the stock or 1,728 shares.

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

Out of 21 analysts covering Akamai Tech (NASDAQ:AKAM), 9 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 43% are positive. Akamai Tech has been the topic of 36 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Wednesday, October 28 the stock rating was downgraded by Craig Hallum to “Hold”. The firm has “Buy” rating given on Wednesday, July 29 by Canaccord Genuity. JMP Securities upgraded Akamai Technologies, Inc. (NASDAQ:AKAM) rating on Friday, August 28. JMP Securities has “Market Outperform” rating and $85 price target. On Thursday, July 30 the stock rating was maintained by M Partners with “Buy”. The firm earned “Neutral” rating on Wednesday, February 10 by Credit Suisse. The stock has “Buy” rating given by B. Riley & Co on Wednesday, February 10. As per Wednesday, October 28, the company rating was maintained by Morgan Stanley. UBS maintained it with “Buy” rating and $74 target price in Wednesday, October 28 report. The firm has “Buy” rating given on Wednesday, October 26 by Deutsche Bank. The rating was initiated by Evercore on Monday, December 14 with “Buy”.

AKAM Company Profile

Akamai Technologies, Inc., incorporated on August 20, 1998, 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. The Company’s services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions, and enterprise professional services. The Company’s solutions include Performance and Security Solutions, Media Delivery Solutions, and Service and Support Solutions. Performance and Security Solutions are designed to help Websites and business applications operate while offering protection against security threats. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Service and Support Solutions offer professional services and solutions.

More notable recent Akamai Technologies, Inc. (NASDAQ:AKAM) news were published by: Fool.com which released: “Why Akamai Technologies, Inc. Gained 31% in October” on November 07, 2016, also Fool.com with their article: “Why Akamai Technologies, Inc. Jumped 16% Today” published on October 26, 2016, Finance.Yahoo.com published: “Akamai Technologies Inc (AKAM) CEO F Thomson Leighton Bought $999767 of Shares” on November 17, 2016. More interesting news about Akamai Technologies, Inc. (NASDAQ:AKAM) were released by: Prnewswire.com and their article: “Akamai Announces CMAF Support for Transcoding Services” published on November 16, 2016 as well as Prnewswire.com‘s news article titled: “U.S. Presidential Election Is Largest News Event Delivered by Akamai” with publication date: November 09, 2016.

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By Peter Erickson


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