$AKAM.US Ranked Positive On May 15th, 2024

Smart Insider $AKAM.US Ranked Positive On May 15th, 2024

$AKAM.US Ranked Positive On May 15th, 2024

Akamai Technologies Inc (AKAM US, +1, 15-May-24)

F. Tom Leighton¬†(CEO since 2013, and founder) purchased $2¬†million worth of stock on May 14th at $92.68. The purchase is not that unusual in size for him and the 22,000 share¬†purchase just nudges his holding higher to 2.52 million shares.¬†But, his record, based on 86 purchases dating back to¬†purchases <$5 just after the Y2K market correction in 2002 is excellent and qualifies him as a “Smart Buyer”.¬†

His most recent buying was in 2022-2023 under a 10b5-1 plan around this price level and took some time to work out but the stock eventually moved much higher. His six-month average return based on 86 prior purchases is +23%. 

In the past,¬†he often buys the shares over a period of time so we would not be surprised to see additional purchases from him. So¬†far he has been the only recent buyer after the stock’s latest decline.¬†

We are ranking the stock +1.

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