Sumitomo Mitsui Trust Holdings Inc. Has $52.29 Million Stake in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441,848 shares of the technology infrastructure company’s stock after selling 993 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Akamai Technologies worth $52,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Ancora Advisors LLC lifted its holdings in shares of Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at about $37,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at about $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at about $44,000. Finally, Headinvest LLC acquired a new stake in Akamai Technologies in the 3rd quarter worth approximately $40,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on AKAM. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. JPMorgan Chase & Co. boosted their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, KeyCorp raised their target price on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.27.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the completion of the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 over the last three months. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Up 0.4 %

AKAM opened at $100.73 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s fifty day moving average price is $109.12 and its two-hundred day moving average price is $112.45. Akamai Technologies, Inc. has a fifty-two week low of $76.85 and a fifty-two week high of $129.17. The company has a market capitalization of $15.26 billion, a P/E ratio of 28.54, a P/E/G ratio of 2.86 and a beta of 0.72.

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

Akamai Technologies Company 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.