Sompo Asset Management Co. Ltd. Raises Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sompo Asset Management Co. Ltd. raised its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,387 shares of the technology infrastructure company's stock after purchasing an additional 3,487 shares during the quarter. Sompo Asset Management Co. Ltd.'s holdings in Akamai Technologies were worth $2,237,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AKAM. Fuller & Thaler Asset Management Inc. increased its stake in shares of Akamai Technologies by 7.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 21,157 shares of the technology infrastructure company's stock worth $2,024,000 after acquiring an additional 1,530 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Akamai Technologies by 43.4% in the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company's stock worth $74,473,000 after buying an additional 235,394 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Akamai Technologies by 317.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,748 shares of the technology infrastructure company's stock worth $1,028,000 after acquiring an additional 8,171 shares during the period. MML Investors Services LLC raised its position in Akamai Technologies by 6.7% during the fourth quarter. MML Investors Services LLC now owns 22,841 shares of the technology infrastructure company's stock valued at $2,185,000 after acquiring an additional 1,435 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Akamai Technologies by 0.9% in the fourth quarter. MetLife Investment Management LLC now owns 39,735 shares of the technology infrastructure company's stock valued at $3,801,000 after acquiring an additional 356 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Price Performance

AKAM opened at $73.67 on Wednesday. The stock's 50-day moving average price is $80.46 and its 200 day moving average price is $91.43. Akamai Technologies, Inc. has a 12-month low of $67.51 and a 12-month high of $106.80. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.74 and a beta of 0.80. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AKAM. Morgan Stanley cut their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Oppenheimer began coverage on Akamai Technologies in a research note on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price target for the company. TD Cowen lowered shares of Akamai Technologies from a "buy" rating to a "hold" rating and cut their price target for the stock from $125.00 to $98.00 in a report on Friday, February 21st. Raymond James reduced their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.75.

Insiders Place Their Bets

In other Akamai Technologies news, CEO F Thomson Leighton bought 37,670 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the completion of the transaction, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,394 shares of company stock worth $2,653,043 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.