Sawgrass Asset Management LLC Has $14.46 Million Stock Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Sawgrass Asset Management LLC lifted its holdings in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 72.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 143,269 shares of the technology infrastructure company’s stock after acquiring an additional 60,241 shares during the period. Akamai Technologies comprises about 1.5% of Sawgrass Asset Management LLC’s holdings, making the stock its 21st biggest position. Sawgrass Asset Management LLC’s holdings in Akamai Technologies were worth $14,463,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AKAM. Vanguard Group Inc. grew its stake in shares of Akamai Technologies by 0.7% during the first quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock worth $1,932,009,000 after buying an additional 124,359 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after acquiring an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in Akamai Technologies by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of Akamai Technologies by 19.6% during the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after purchasing an additional 222,290 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $87.43 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies, Inc. has a 52 week low of $86.78 and a 52 week high of $129.17. The firm has a 50 day moving average of $99.84 and a 200-day moving average of $96.76. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. This represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,500 shares of company stock worth $1,065,975. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on AKAM shares. DA Davidson reiterated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Friday, August 9th. Tigress Financial reiterated a “strong-buy” rating and set a $140.00 price target on shares of Akamai Technologies in a report on Thursday, August 29th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research report on Thursday, August 15th. Finally, Scotiabank decreased their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.47.

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.