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

Lightrock Netherlands B.V. purchased a new stake in Akamai Technologies, Inc. (NASDAQ:AKAM) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 50,000 shares of the technology infrastructure company’s stock, valued at approximately $4,806,000. Akamai Technologies accounts for approximately 1.7% of Lightrock Netherlands B.V.’s investment portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of AKAM. Banque Cantonale Vaudoise raised its position in shares of Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after buying an additional 20,633 shares in the last quarter. Principal Financial Group Inc. increased its stake in Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after purchasing an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after purchasing an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. bought a new position in shares of Akamai Technologies in the 4th quarter valued at $827,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Up 2.5 %

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AKAM. Scotiabank reduced their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, December 2nd. Citigroup lowered their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.10.

Insider Transactions at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,282 shares of company stock worth $2,099,996 over the last three months. 1.80% of the stock is owned by company insiders.

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.