Lightrock Netherlands B.V. Invests $4.81 Million in Akamai Technologies, Inc. (NASDAQ:AKAM)

Lightrock Netherlands B.V. acquired a new position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the technology infrastructure company's stock, valued at approximately $4,806,000. Akamai Technologies makes up approximately 1.7% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 29th largest position.

A number of other large investors have also recently bought and sold shares of AKAM. Geode Capital Management LLC boosted its holdings in Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after purchasing an additional 202,746 shares in the last quarter. Retirement Systems of Alabama boosted its holdings 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 worth $84,511,000 after purchasing an additional 139,760 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Akamai Technologies by 6.9% in the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock worth $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Akamai Technologies in the third quarter worth $13,313,000. Finally, Invenomic Capital Management LP boosted its holdings in Akamai Technologies by 252.2% in the third quarter. Invenomic Capital Management LP now owns 175,984 shares of the technology infrastructure company's stock worth $17,766,000 after purchasing an additional 126,021 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AKAM shares. Oppenheimer upgraded shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Scotiabank decreased their price target 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. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a report on Monday, November 11th. Evercore ISI restated an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, Robert W. Baird decreased their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.10.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $0.35 during mid-day trading on Friday, hitting $100.01. The company's stock had a trading volume of 1,466,567 shares, compared to its average volume of 1,706,579. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $114.67. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 3.56 and a beta of 0.65. The stock has a fifty day moving average of $96.60 and a 200-day moving average of $97.88.

Insider Buying and Selling

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company's stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 of the company's stock, 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. Insiders sold 15,782 shares of company stock valued at $1,523,951 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Akamai Technologies 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.