Akamai Technologies, Inc. (NASDAQ:AKAM) Stock Holdings Lifted by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC raised its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,923 shares of the technology infrastructure company’s stock after purchasing an additional 28,654 shares during the quarter. Akamai Technologies makes up about 1.8% of Sawgrass Asset Management LLC’s holdings, making the stock its 10th biggest holding. Sawgrass Asset Management LLC owned about 0.11% of Akamai Technologies worth $16,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock valued at $263,000 after buying an additional 910 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Akamai Technologies by 67.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 170,856 shares of the technology infrastructure company’s stock valued at $16,303,000 after buying an additional 68,681 shares in the last quarter. Sovran Advisors LLC bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $302,000. Lightrock Netherlands B.V. bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $4,806,000. Finally, Robinson Value Management Ltd. boosted its holdings in shares of Akamai Technologies by 2.7% during the 4th quarter. Robinson Value Management Ltd. now owns 22,215 shares of the technology infrastructure company’s stock valued at $2,125,000 after buying an additional 580 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AKAM shares. Citigroup dropped their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Robert W. Baird dropped their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.10.

Akamai Technologies Trading Down 0.3 %

Akamai Technologies stock opened at $101.06 on Thursday. Akamai Technologies, Inc. has a 12-month low of $84.70 and a 12-month high of $126.78. 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 firm has a market capitalization of $15.18 billion, a price-to-earnings ratio of 29.90, a P/E/G ratio of 3.56 and a beta of 0.65. The firm has a 50 day moving average of $96.52 and a 200 day moving average of $97.85.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock worth $2,099,996 in the last three months. 1.80% of the stock is owned by company insiders.

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.