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.
If you want to have Stock of the Week with insider buying stocks information and analysis in your email, don’t forget to subscribe!
Follow us on LinkedIn and Twitter
Check our Signals Performance and if you want to know more about this Signals Service, please, email us at sales_admin@smartinsider.com or fill in the Contact Us form here.