Sumitomo Mitsui DS Asset Management Company Ltd Sells 517 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,800 shares of the technology infrastructure company’s stock after selling 517 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Akamai Technologies were worth $1,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its position 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 purchased a new position in Akamai Technologies during the second quarter valued at $28,000. EntryPoint Capital LLC bought a new stake in Akamai Technologies in the first quarter worth $31,000. Family Firm Inc. purchased a new stake in shares of Akamai Technologies in the second quarter worth $35,000. Finally, Covestor Ltd grew its stake in shares of Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AKAM shares. Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 price target on shares of Akamai Technologies in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. TD Cowen upped their price objective on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.47.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM opened at $106.15 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 12-month low of $87.59 and a 12-month high of $129.17. The firm has a market capitalization of $16.17 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. The firm has a 50 day moving average of $100.64 and a 200 day moving average of $97.31.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million during the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, research analysts anticipate that Akamai Technologies, Inc. will post 4.42 earnings per share for the current year.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $741,655 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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.