Rep. Jefferson Shreve Sells Off Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

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 Stock Down 3.9 %

Akamai Technologies stock opened at $84.15 on Tuesday. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a 52 week low of $75.50 and a 52 week high of $111.79. The business’s 50-day moving average price is $92.83 and its 200 day moving average price is $96.48. 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 posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, sell-side analysts anticipate that Akamai Technologies, Inc. will post 4.6 earnings per share for the current year.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC raised its position in Akamai Technologies by 85.7% in the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the period. Van ECK Associates Corp raised its position in 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 period. QRG Capital Management Inc. raised its holdings in shares of Akamai Technologies by 4.3% in the 3rd quarter. QRG Capital Management Inc. now owns 8,138 shares of the technology infrastructure company’s stock valued at $822,000 after buying an additional 335 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after buying an additional 358 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AKAM shares. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $125.00 to $98.00 in a report on Friday, February 21st. UBS Group assumed coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective on the stock. Raymond James dropped their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $100.00 in a report on Friday, February 21st. Finally, Citigroup dropped their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.55.

Insider Activity at Akamai Technologies

In related news, COO Adam Karon sold 6,431 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.49, for a total transaction of $517,631.19. Following the completion of the transaction, the chief operating officer now directly owns 14,239 shares of the company’s stock, valued at $1,146,097.11. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO F Thomson Leighton bought 37,670 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 42,176 shares of company stock worth $3,759,934. 1.80% of the stock is currently owned by company insiders.

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.