Lightrock Netherlands B.V. Acquires 51,546 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Lightrock Netherlands B.V. lifted its position in Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) by 103.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,546 shares of the technology infrastructure company's stock after buying an additional 51,546 shares during the quarter. Akamai Technologies comprises 2.2% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 23rd largest holding. Lightrock Netherlands B.V. owned 0.07% of Akamai Technologies worth $8,188,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Akamai Technologies by 54.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after acquiring an additional 155 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the fourth quarter worth $49,000. LRI Investments LLC raised its stake in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company's stock worth $60,000 after acquiring an additional 520 shares in the last quarter. Finally, TCTC Holdings LLC raised its stake in Akamai Technologies by 17.0% during the fourth quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company's stock worth $67,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 94.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AKAM shares. Wall Street Zen lowered Akamai Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. UBS Group raised their target price on Akamai Technologies from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Scotiabank lowered their target price on Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. KeyCorp started coverage on Akamai Technologies in a research note on Friday, June 6th. They issued an "underweight" rating and a $63.00 target price for the company. Finally, Piper Sandler restated a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies currently has an average rating of "Hold" and an average price target of $101.25.

Akamai Technologies Stock Up 2.0%

Shares of NASDAQ AKAM traded up $1.58 during mid-day trading on Tuesday, reaching $80.64. 1,613,398 shares of the company's stock were exchanged, compared to its average volume of 2,082,007. The business has a fifty day simple moving average of $78.68 and a 200 day simple moving average of $84.07. Akamai Technologies, Inc. has a twelve month low of $67.51 and a twelve month high of $106.80. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.50 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $1.64 EPS. Akamai Technologies's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

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