50,000 Shares in Akamai Technologies, Inc. (NASDAQ:AKAM) Bought by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. bought a new position in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the technology infrastructure company’s stock, valued at approximately $4,806,000. Akamai Technologies accounts for 1.7% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 29th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the last quarter. Eastern Bank bought a new stake in Akamai Technologies in the 3rd quarter valued at approximately $71,000. Covestor Ltd boosted its position in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $102,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $102.10 on Tuesday. Akamai Technologies, Inc. has a 52 week low of $84.70 and a 52 week high of $128.62. The company has a market capitalization of $15.34 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 3.56 and a beta of 0.65. The company has a 50-day simple moving average of $96.38 and a 200 day simple moving average of $97.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insiders Place Their Bets

In related news, 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 transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,282 shares of company stock worth $2,099,996 over the last three months. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AKAM. 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 assumed coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 price target on the stock. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Oppenheimer upgraded 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. 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 research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Akamai Technologies presently has a consensus 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.