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

Sawgrass Asset Management LLC grew its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 1.8% of Sawgrass Asset Management LLC's portfolio, making the stock its 10th biggest position. Sawgrass Asset Management LLC owned 0.11% of Akamai Technologies worth $16,444,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its position in shares of Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company's stock worth $4,481,000 after buying an additional 20,633 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company's stock valued at $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Akamai Technologies by 1.3% during 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 period. Teachers Retirement System of The State of Kentucky raised its stake in Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock worth $19,018,000 after buying an additional 46,335 shares in the last quarter. Finally, Cascade Investment Advisors Inc. purchased a new stake in Akamai Technologies in the fourth quarter worth about $827,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares of the company's stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,782 shares of company stock valued at $1,523,951. Corporate insiders own 1.80% of the company's stock.

Akamai Technologies Trading Up 0.4 %

NASDAQ AKAM traded up $0.35 during trading on Monday, hitting $100.01. The stock had a trading volume of 1,466,567 shares, compared to its average volume of 1,613,507. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $114.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 3.56 and a beta of 0.65. The stock has a 50 day simple moving average of $96.60 and a 200 day simple moving average of $97.88.

Wall Street Analyst Weigh In

AKAM has been the subject of several research reports. Evercore ISI reissued an "outperform" rating and issued a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Scotiabank decreased their price objective on Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating for the company in a report on Friday, November 8th. UBS Group assumed coverage on shares of Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 target price on the stock. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Finally, Robert W. Baird dropped 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 note on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $117.95.

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.