Rep. Jefferson Shreve Sells Akamai Technologies, Inc. (NASDAQ:AKAM) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Akamai Technologies, Inc. (NASDAQ:AKAM). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Akamai Technologies stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Akamai Technologies Trading Down 2.6 %

Shares of NASDAQ:AKAM traded down $2.18 during midday trading on Tuesday, reaching $81.97. The company’s stock had a trading volume of 658,021 shares, compared to its average volume of 2,693,933. The business has a 50 day moving average price of $92.83 and a 200 day moving average price of $96.48. Akamai Technologies, Inc. has a 1 year low of $75.50 and a 1 year high of $110.79. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Research analysts forecast that Akamai Technologies, Inc. will post 4.6 EPS for the current year.

Insider Buying and Selling

In other news, CEO F Thomson Leighton acquired 37,670 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the completion of the purchase, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $86.48, for a total transaction of $402,304.96. Following the transaction, the chief financial officer now owns 34,510 shares of the company’s stock, valued at $2,984,424.80. This represents a 11.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,176 shares of company stock worth $3,759,934 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Akamai Technologies by 6.1% in the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock valued at $189,000 after purchasing an additional 105 shares during the last quarter. QRG Capital Management Inc. increased its position in Akamai Technologies by 4.3% during the 3rd quarter. QRG Capital Management Inc. now owns 8,138 shares of the technology infrastructure company’s stock worth $822,000 after buying an additional 335 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock worth $20,236,000 after purchasing an additional 6,785 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of research reports. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $100.00 in a report on Friday, February 21st. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Finally, HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.55.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

Akamai Technologies Company Profile

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.