Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,679 shares of the technology infrastructure company’s stock after selling 248 shares during the quarter. Sanctuary Advisors LLC’s holdings in Akamai Technologies were worth $992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Akamai Technologies by 1.3% in the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after purchasing an additional 28,135 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Akamai Technologies by 6.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after purchasing an additional 88,732 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after buying an additional 11,272 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Scotiabank lowered their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Finally, UBS Group initiated coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.85.

Insider Buying and Selling at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction 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 $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the firm’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 completion of the transaction, the chief technology officer now directly 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 disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock valued at $1,733,716 over the last quarter. 1.80% of the stock is currently owned by insiders.

Akamai Technologies Trading Up 1.4 %

Shares of Akamai Technologies stock opened at $95.89 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a twelve month low of $84.70 and a twelve month high of $129.17. The firm has a market capitalization of $14.41 billion, a PE ratio of 28.37, a P/E/G ratio of 3.83 and a beta of 0.65. The firm’s 50-day moving average price is $97.51 and its 200 day moving average price is $96.69.

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.