Sumitomo Mitsui Trust Group Inc. Has $37.73 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 0.26% of Akamai Technologies worth $37,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC increased its stake in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the period. Eastern Bank bought a new position in Akamai Technologies during the third quarter valued at about $71,000. Covestor Ltd increased its stake in Akamai Technologies by 67.7% during the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in Akamai Technologies during the third quarter valued at about $102,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Down 0.7 %

NASDAQ:AKAM opened at $101.38 on Wednesday. The stock’s fifty day moving average price is $96.46 and its two-hundred day moving average price is $97.83. Akamai Technologies, Inc. has a 52-week low of $84.70 and a 52-week high of $128.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 3.56 and a beta of 0.65.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the transaction, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. 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 stock in a transaction on 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 directly owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,282 shares of company stock valued at $2,099,996. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group assumed coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Citigroup lowered their price objective on 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 Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Scotiabank lowered their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $116.10.

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.