Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lessened its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 3.2% during the fourth quarter, HoldingsChannel reports. The firm owned 113,877 shares of the technology infrastructure company’s stock after selling 3,814 shares during the quarter. Akamai Technologies accounts for approximately 1.5% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Sawgrass Asset Management LLC’s holdings in Akamai Technologies were worth $13,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AKAM. Raymond James Financial Services Advisors Inc. increased its stake in shares of Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after acquiring an additional 97 shares during the last quarter. ORG Partners LLC grew its stake in shares of Akamai Technologies by 16.7% during the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after buying an additional 100 shares during the period. Private Trust Co. NA increased its holdings in shares of Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock worth $84,000 after buying an additional 108 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Akamai Technologies by 0.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after buying an additional 108 shares during the period. Finally, Capital Analysts LLC boosted its holdings in Akamai Technologies by 15.5% in the fourth quarter. Capital Analysts LLC now owns 857 shares of the technology infrastructure company’s stock valued at $101,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM traded up $0.45 during mid-day trading on Wednesday, hitting $102.12. The stock had a trading volume of 1,719,149 shares, compared to its average volume of 1,588,139. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.47 billion, a PE ratio of 28.80, a PEG ratio of 2.81 and a beta of 0.72. Akamai Technologies, Inc. has a fifty-two week low of $78.48 and a fifty-two week high of $129.17. The company’s fifty day simple moving average is $105.97 and its two-hundred day simple moving average is $112.03.

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

Analyst Ratings Changes

Several equities research analysts have commented on AKAM shares. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. KeyCorp lifted their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price objective for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Finally, Citigroup decreased their price target on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.60.

Insider Buying and Selling

In related news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The sale was disclosed in a document filed 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 that occurred on 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 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. Insiders have sold a total of 30,753 shares of company stock worth $3,368,303 over the last quarter. 2.00% of the stock is owned by company insiders.

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.