Sumitomo Mitsui DS Asset Management Company Ltd Acquires 108 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,625 shares of the technology infrastructure company’s stock after purchasing an additional 108 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Akamai Technologies were worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after purchasing an additional 97 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Akamai Technologies by 16.7% in the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after purchasing an additional 100 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Akamai Technologies by 17.9% in the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after purchasing an additional 108 shares in the last quarter. Xponance Inc. increased its holdings in shares of Akamai Technologies by 0.5% in the 3rd quarter. Xponance Inc. now owns 20,620 shares of the technology infrastructure company’s stock worth $2,197,000 after purchasing an additional 110 shares in the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of Akamai Technologies by 15.5% in the 4th quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 115 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Up 0.4 %

Shares of Akamai Technologies stock opened at $102.19 on Thursday. The company has a market capitalization of $15.48 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.85 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a fifty day moving average of $107.32 and a 200 day moving average of $112.37. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same quarter in the prior year, the firm posted $1.01 EPS. Akamai Technologies’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,353 shares of company stock worth $3,688,883. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on AKAM. Piper Sandler upped their price objective on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. KeyCorp boosted their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $128.00 to $135.00 in a research note on Thursday, March 7th. Finally, StockNews.com upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $121.27.

About Akamai Technologies

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.