Sumitomo Mitsui Trust Group Inc. Buys 8,402 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.1% during the third quarter, Holdings Channel.com reports. The firm owned 400,273 shares of the technology infrastructure company’s stock after acquiring an additional 8,402 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Akamai Technologies were worth $40,408,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new stake in Akamai Technologies in the 2nd quarter valued at $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the 1st quarter valued at $31,000. Finally, Family Firm Inc. bought a new stake in Akamai Technologies during the 2nd quarter valued at $35,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Trading Down 1.0 %

Shares of AKAM stock opened at $87.43 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $13.13 billion, a P/E ratio of 25.87, a PEG ratio of 3.36 and a beta of 0.68. The company has a 50 day moving average of $99.84 and a 200-day moving average of $96.78. Akamai Technologies, Inc. has a 12-month low of $86.78 and a 12-month high of $129.17.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now owns 19,510 shares in the company, valued at $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. The trade was a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,065,975 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AKAM. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Monday, July 29th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. TD Cowen raised their target price on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $125.00 in a report on Friday, August 9th. Finally, DA Davidson reissued a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $117.47.

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.