On March 13 CEO of Akamai Technologies Inc. (AKAM) Dr. Tom Leighton added 30,000 shares to his stake. The shares went for $34.75 each for a total transaction amount of $1,042,500. Since Leighton’s buy the price per share has gone up 1.44%. Dr. Leighton now owns at least 191,262 shares of Akamai.
This is not the first large buy for the CEO this year. In February Leighton added another 50,000 shares costing him $1,765,500. Also in February, Director George Conrades added 27,325 shares to his stake costing him $1,003,921.
CEO and co-founder of Akamai Technologies, Dr. Tom Leighton, served as the company’s chief scientist for 14 years before becoming the CEO. Dr. Leighton’s work on algorithms for network applications earned him recognition as one of the Top 10 Technology Innovators in U.S. News & World Report.
Akamai Technologies is an online services provider based out of Cambridge, Mass. The company uses cloud technology to provide services for accelerating and improving the delivery of content and applications over the Internet. Akamai offers app performance services, services and solutions for digital media and software distribution and storage, content and app delivery and online advertising-related services. Akamai has a market cap of $6.17 billion.
Akamai Technologies had a strong 2012. The company reported an annual revenue of $1,374 million, a 19% increase from 2011. Their full year GAAP net income of $204 million showed a two percent increase from 2011 and $1.12 per diluted share demonstrated a five percent increase from the previous year. The board of directors also authorized a $150 million extension
"Throughout the year, we announced new products across every solution line, closed a record number of strategic acquisitions, and achieved margin expansion through continued improvement in our network efficiency even as we expanded its capacity worldwide to meet rising demand for Akamai services,” Tom Leighton. “We believe these efforts have positioned us well to help our customers capitalized on the opportunities, and mitigate the challenges, of conducting business online.”
Six gurus followed by GuruFocus currently hold shares in Akamai. For more information on these gurus look at the Akamai Technologies Guru Trades page.
With its shares up 0.12% this morning, Akamai Technologies trades at $34.70.
For more information on Akamai Technologies insider trades look at Tom Leighton’s Market Overview.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.