Sumitomo Mitsui Trust Group Inc. Trims Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 394,420 shares of the technology infrastructure company's stock after selling 5,853 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Akamai Technologies worth $37,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC boosted its holdings in Akamai Technologies by 2.0% in the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company's stock valued at $516,000 after purchasing an additional 102 shares during the last quarter. Empirical Finance LLC boosted its holdings in Akamai Technologies by 2.0% in the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company's stock valued at $538,000 after purchasing an additional 103 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Akamai Technologies by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company's stock worth $189,000 after acquiring an additional 105 shares in the last quarter. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 114 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company's stock worth $894,000 after acquiring an additional 115 shares in the last quarter. 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 Akamai Technologies stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares of the company's stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,782 shares of company stock valued at $1,523,951. Insiders own 1.80% of the company's stock.

Akamai Technologies Stock Up 0.4 %

AKAM stock traded up $0.35 during midday trading on Friday, hitting $100.01. The company's stock had a trading volume of 1,466,567 shares, compared to its average volume of 1,613,507. The firm has a market capitalization of $15.02 billion, a P/E ratio of 29.59, a PEG ratio of 3.56 and a beta of 0.65. The firm has a 50-day simple moving average of $96.60 and a 200-day simple moving average of $97.88. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $114.67. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Oppenheimer raised shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. Citigroup lowered their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating on the stock in a research note on Friday, January 17th. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Monday, November 11th. Hsbc Global Res upgraded shares of Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target for the company. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $117.95.

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.