Sumitomo Mitsui DS Asset Management Company Ltd Has $1.93 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,175 shares of the technology infrastructure company’s stock after purchasing an additional 375 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Akamai Technologies were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the period. Bruce G. Allen Investments LLC raised its stake in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares in the last quarter. Eastern Bank bought a new position in shares of Akamai Technologies during the third quarter valued at $71,000. Covestor Ltd boosted its stake in shares of Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at $102,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the transaction, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. The trade was a 13.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,282 shares of company stock worth $2,099,996. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup cut their price target on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Scotiabank decreased their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.10.

Akamai Technologies Stock Up 2.5 %

Shares of Akamai Technologies stock opened at $102.10 on Tuesday. The business has a fifty day simple moving average of $96.38 and a 200 day simple moving average of $97.80. The stock has a market cap of $15.34 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 3.56 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12 month low of $84.70 and a 12 month high of $128.62.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.