Sanctuary Advisors LLC Sells 248 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

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

A number of other institutional investors have also recently made changes to their positions in AKAM. Dimensional Fund Advisors LP lifted its position in Akamai Technologies by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in Akamai Technologies in the second quarter worth about $15,314,000. Renaissance Technologies LLC increased its stake in Akamai Technologies by 33.3% during the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock worth $58,678,000 after acquiring an additional 162,700 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new stake in Akamai Technologies during the second quarter worth approximately $14,130,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AKAM. Evercore ISI reiterated an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. Robert W. Baird cut 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 report on Monday, November 11th. UBS Group started coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.85.

Akamai Technologies Trading Up 1.4 %

NASDAQ:AKAM opened at $95.89 on Monday. The firm has a 50-day simple moving average of $97.51 and a 200-day simple moving average of $96.69. Akamai Technologies, Inc. has a one year low of $84.70 and a one year high of $129.17. The firm has a market cap of $14.41 billion, a P/E ratio of 28.37, a P/E/G ratio of 3.83 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the sale, the chief technology officer now owns 19,510 shares in the company, valued at $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 have sold a total of 18,282 shares of company stock valued at $1,733,716 over the last ninety days. 1.80% of the stock is owned by company insiders.

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.