Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441,848 shares of the technology infrastructure company’s stock after selling 993 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Akamai Technologies were worth $52,293,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ancora Advisors LLC boosted its holdings in shares of Akamai Technologies by 103.3% in the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 127 shares during the last quarter. Planned Solutions Inc. purchased a new stake in Akamai Technologies during the fourth quarter worth $37,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Akamai Technologies during the fourth quarter worth $43,000. Bruce G. Allen Investments LLC purchased a new stake in Akamai Technologies during the fourth quarter worth $44,000. Finally, Headinvest LLC purchased a new stake in Akamai Technologies during the third quarter worth $40,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AKAM. Piper Sandler increased their price target on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. KeyCorp increased their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.27.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,353 shares of company stock valued at $3,688,883. 1.80% of the stock is owned by company insiders.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $100.73 on Friday. The firm has a 50-day simple moving average of $109.12 and a 200-day simple moving average of $112.45. The stock has a market capitalization of $15.26 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. Akamai Technologies, Inc. has a 52 week low of $76.85 and a 52 week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 earnings per share. On average, equities analysts predict that Akamai Technologies, Inc. will post 4.84 earnings per share for the current fiscal year.

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.