Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Acquired by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. increased its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 103.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,546 shares of the technology infrastructure company's stock after purchasing an additional 51,546 shares during the period. Akamai Technologies makes up 2.2% of Lightrock Netherlands B.V.'s portfolio, making the stock its 23rd largest holding. Lightrock Netherlands B.V. owned about 0.07% of Akamai Technologies worth $8,188,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after purchasing an additional 155 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after purchasing an additional 234 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies during the 4th quarter worth about $49,000. LRI Investments LLC boosted its stake in shares of Akamai Technologies by 500.0% during the 4th quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after purchasing an additional 520 shares during the period. Finally, TCTC Holdings LLC boosted its position in Akamai Technologies by 17.0% in the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock valued at $67,000 after buying an additional 102 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 0.5%

Shares of NASDAQ AKAM traded down $0.42 during trading hours on Monday, hitting $79.06. 1,649,110 shares of the stock were exchanged, compared to its average volume of 2,082,969. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $11.56 billion, a PE ratio of 26.62, a PEG ratio of 2.51 and a beta of 0.77. The firm has a fifty day moving average price of $78.69 and a 200-day moving average price of $84.10. Akamai Technologies, Inc. has a 12 month low of $67.51 and a 12 month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.58 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. Akamai Technologies's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. On average, sell-side analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Activity at Akamai Technologies

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the completion of the transaction, the executive vice president owned 43,575 shares in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Adam Karon sold 3,927 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer owned 10,809 shares in the company, valued at $918,981.18. The trade was a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AKAM. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. KeyCorp began coverage on shares of Akamai Technologies in a research report on Friday, June 6th. They issued an "underweight" rating and a $63.00 price objective for the company. Scotiabank lowered their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research report on Friday, May 9th. Oppenheimer began coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, Wall Street Zen cut shares of Akamai Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.25.

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.