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

Sompo Asset Management Co. Ltd. lifted its holdings in Akamai Technologies, Inc. (NASDAQ:AKAM) by 148.4% during the 3rd quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC grew 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 worth $25,000 after acquiring an additional 114 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Akamai Technologies in the 1st quarter valued at approximately $31,000. Versant Capital Management Inc boosted its stake in 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 during the period. Innealta Capital LLC purchased a new position in Akamai Technologies during the 2nd quarter worth approximately $28,000. Finally, Family Firm Inc. acquired a new stake in Akamai Technologies during the 2nd quarter valued at $35,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Up 2.0 %

NASDAQ AKAM opened at $92.90 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $99.09 and its two-hundred day moving average is $96.35. Akamai Technologies, Inc. has a 1-year low of $84.70 and a 1-year high of $129.17. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 3.47 and a beta of 0.68.

Analysts Set New Price Targets

Several analysts have recently commented on AKAM shares. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Monday, July 29th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $125.00 in a research report on Friday, August 9th. Robert W. Baird lowered their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have issued 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 $117.47.

Insiders Place Their Bets

In related news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares in the company, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,500 shares of company stock worth $1,065,975. Insiders own 1.80% of the company’s stock.

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.