Robert Blumofe, the Chief Technology Officer of Akamai Technologies Inc (AKAM, Financial), executed a sale of 2,500 shares of the company on November 15, 2024. The transaction was filed with the SEC and the shares were sold at a price of $88.61 each. Following this transaction, the insider now directly owns 19,510 shares of the company.
Akamai Technologies Inc, headquartered in Cambridge, Massachusetts, is a global content delivery network, cybersecurity, and cloud service company, providing web and Internet security services. Akamai's solutions are designed to help enterprises provide secure, high-performing user experiences on any device, anywhere.
Over the past year, Robert Blumofe has sold a total of 16,219 shares of Akamai Technologies Inc and has not made any purchases of the stock. The insider transaction history for the company shows a pattern of more sales than purchases among insiders, with 26 insider sells and only 1 insider buy over the last year.
On the valuation front, Akamai Technologies Inc's shares were trading at $88.61 on the day of the sale, giving the company a market cap of approximately $13.13 billion. The price-earnings ratio of the company stands at 25.87, which is slightly lower than the industry median of 26.31.
The stock is currently considered Modestly Undervalued with a price-to-GF Value ratio of 0.82, based on a GF Value of $108.58. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
This recent insider sale might interest investors tracking insider behaviors as an indicator of confidence levels in the company's future prospects, especially when analyzed in the context of the company's current valuation and stock performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
