Insider Sell: Akamai Technologies Inc's (AKAM) CTO Robert Blumofe Sells 6,000 Shares
Akamai Technologies Inc (NASDAQ:AKAM), a global leader in content delivery network services and cloud security solutions, has reported an insider sell according to a recent SEC filing. Robert Blumofe, the Chief Technology Officer of the company, sold 6,000 shares of Akamai Technologies Inc on March 4, 2024. The transaction was disclosed in an SEC Filing.Over the past year, the insider has sold a total of 24,238 shares and has not made any share purchases. This latest transaction continues a trend observed over the past year, where Akamai Technologies Inc has seen a total of 31 insider buys and 37 insider sells.
On the day of the sale, shares of Akamai Technologies Inc were trading at $110.6, valuing the company at a market cap of $16.572 billion. The price-earnings ratio of the company stands at 30.99, which is above the industry median of 27.97 but below the company's historical median price-earnings ratio.
Considering the stock's price of $110.6 and the GuruFocus Value of $117.14, Akamai Technologies Inc has a price-to-GF-Value ratio of 0.94, indicating that the stock is Fairly Valued based on its GF Value. The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.Akamai Technologies Inc's business involves providing solutions for securing, delivering, and optimizing content and business applications over the Internet. As the digital landscape evolves, the company's services are critical for businesses seeking reliable and secure online operations.
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.
This article first appeared on GuruFocus.
