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

Sanibel Captiva Trust Company Inc. lowered its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 30.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,729 shares of the technology infrastructure company’s stock after selling 6,321 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Akamai Technologies were worth $1,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AKAM. Dimensional Fund Advisors LP raised its holdings in Akamai Technologies by 25.1% during 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 purchasing an additional 347,626 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Akamai Technologies by 5.1% during 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 buying an additional 202,746 shares during the period. Empyrean Capital Partners LP bought a new stake in shares of Akamai Technologies during the second quarter worth approximately $15,314,000. Distillate Capital Partners LLC acquired a new position in Akamai Technologies in the second quarter valued at approximately $14,130,000. Finally, Retirement Systems of Alabama boosted its stake in Akamai Technologies by 20.0% in the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies 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 sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the completion of the transaction, the executive vice president now directly owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,282 shares of company stock worth $2,099,996 in the last three months. Insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Up 0.6 %

Akamai Technologies stock opened at $91.01 on Friday. 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 1-year low of $84.70 and a 1-year high of $129.17. The company has a fifty day simple moving average of $94.02 and a 200 day simple moving average of $97.32. The company has a market cap 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AKAM shares. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Robert W. Baird cut their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, Scotiabank decreased their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.10.

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.