Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. raised its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 148.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,900 shares of the technology infrastructure company’s stock after acquiring an additional 11,890 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Akamai Technologies were worth $2,009,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AKAM. Farther Finance Advisors LLC boosted its holdings in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 114 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new stake in Akamai Technologies in the 2nd quarter valued at approximately $28,000. EntryPoint Capital LLC acquired a new position in Akamai Technologies during the first quarter worth $31,000. Finally, Family Firm Inc. acquired a new position in shares of Akamai Technologies during the 2nd quarter worth $35,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The trade was a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,500 shares of company stock worth $1,065,975. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Stock Performance

Shares of AKAM opened at $92.90 on Friday. The stock has a market capitalization of $13.96 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 3.47 and a beta of 0.68. The business’s fifty day moving average price is $99.09 and its 200 day moving average price is $96.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $129.17.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AKAM. Robert W. Baird dropped their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. TD Cowen lifted their price target on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.47.

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.