Sanibel Captiva Trust Company Inc. Sells 6,321 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Sanibel Captiva Trust Company Inc. reduced its stake in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,729 shares of the technology infrastructure company's stock after selling 6,321 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Akamai Technologies were worth $1,409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company's stock worth $156,088,000 after acquiring an additional 347,626 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock valued at $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Akamai Technologies during the second quarter valued at $15,314,000. Distillate Capital Partners LLC bought a new stake in Akamai Technologies in the 2nd quarter worth about $14,130,000. Finally, Retirement Systems of Alabama raised its position in Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company's stock worth $84,511,000 after buying an additional 139,760 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company's stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,282 shares of company stock worth $2,099,996. Insiders own 2.00% of the company's stock.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock traded up $0.51 on Friday, hitting $91.01. 2,346,395 shares of the company traded hands, compared to its average volume of 1,235,796. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $129.17. The business has a 50-day simple moving average of $94.02 and a 200 day simple moving average of $97.32. 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 $13.67 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.64.

Analyst Upgrades and Downgrades

AKAM has been the subject of a number of research analyst reports. 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. Citigroup cut their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a "neutral" rating for the company in a research report on Friday. UBS Group began coverage on Akamai Technologies in a report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Finally, Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $116.10.

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.